How To Get Your Offer Accepted

If you’re in the market to buy a home, you want to find the perfect place for you and your family. In a seller’s market, the competition can be fierce. As a buyer, you may be under the impression that you need to make the highest offer in order to secure the home of your dreams. The problem is, you may never know what price other people have offered for the same home.

Know Your Budget

First, you should know what kind of a budget you have to work with to buy a home. You probably have done an online search to see what’s out there and what price range the homes you like fall into. You’ll want to go beyond the online search and actually see some of your favorite houses in person because pictures can be deceiving. 

Next, you’ll want to do is speak with a lender. This can help you before you even hit the ground running on your home search. A lender can pre-qualify you then work you through the process of pre-approval. This will give you a definitive number to work with when searching for a home. With this number, you’ll know how much you can offer comfortably when you find that house you fall in love with.

Make A List Of Priorities

Finding the “perfect” house usually requires that you make a few compromises along the way. It’s very unlikely that you’ll find one house that gives you everything you want in one place without a bit of imagination. Jot down all of the things about a home that are the most important to you. These items could include:

  • The neighborhood
  • Big backyard
  • Open floor plan
  • Number of bedrooms
  • Hardwood floors
  • The size of the rooms
  • Style of the house
  • Granite countertops

Whatever is important to you should be on the list. Next, go through the list and see what can be compromised on. There are probably a few luxuries on the list that you could stand to give up in lieu of something else.  

The Offer


Once you find that home you know that you absolutely want to live in, you’re going to want to make an offer. Let your realtor know immediately that you’re interested in the home and they can get to work. Your realtor can help you to make an offer that’s reasonable based on the asking price and your budget. Your offer doesn’t have to be thousands of dollars over the asking price for you to win the bid. There are a couple of strategies that can help you to land the right home even if you’re not stretching your budget to the max.

Showing You’re Serious

Taking steps like being pre-approved and having all of your finances in order can help to give you the upper hand in the house hunt. Sellers don’t want to deal with a buyer who is ultimately going to have issues where the deal will fall through.

The Offer Letter

Writing a letter along with your offer is a great personal touch to help you land the home of your dreams. If a seller knows that the home they have lived in and loved will go to another owner who is going to appreciate and take the same great care of the home, they will be more likely to go with you as a buyer. First, tell the seller a bit about yourself and why you love the home so much. Compliment the landscaping. Tell the seller just how much your kids are going to appreciate living in the home. Don’t be afraid to get too personal when it comes to writing an offer letter to the sellers. They will appreciate honesty and a candid approach in the sometimes all too serious matter of buying a home.

Avoid Making a “Lowball” Offer on a Home

After a thorough review of the real estate market, you’ve found your dream home. Now, you just need to submit a fair offer that the home seller will accept.

Regardless of whether you’re shopping for a home in a buyers’ market or a sellers’ market, you’ll want to avoid the risk of submitting a “lowball” offer, i.e. an offer that a home seller will turn down immediately.

Remember, if you want to land your ideal home, you’ll likely need to submit an offer that is attractive to a home seller. And if you know what it takes to minimize the dangers of submitting a lowball proposal, you’ll be better equipped to secure your dream house quickly.

Making a fair offer on a home is simple – here are three tips to ensure you can avoid the dangers of submitting a lowball offer:

1. Review the Real Estate Market.

As a diligent homebuyer, you’ve probably checked out dozens of residences in your search for the perfect home. Along the way, you might have even noticed that home prices vary depending on the size and condition of a residence.

The real estate market remains in a constant state of flux, and what a home is worth today is unlikely what it is going to be worth in five years. However, a homebuyer who evaluates real estate market trends as well as prices of similar homes in a particular area should have no trouble submitting a fair offer on his or her dream house.

2. Evaluate the Condition of the Home.

Keep in mind that the condition of the home may impact its short- and long-term value. Thus, you should try to submit an offer that accounts for the overall condition of a residence.

For instance, a home’s old furnace may need to be replaced in the near future, and doing so could prove to be both costly and time-consuming. But if you consider the cost of a new furnace installation in your proposal, you may be able to justify submitting an offer that is below a home seller’s initial asking price. Or, in some cases, you may be able to convince the home seller to repair or replace this furnace to seal the deal.

3. Understand Your Budget.

You’ve been pre-approved for a mortgage and know your budget for a new home. When you submit an offer, you should keep your budget in mind and ensure you’ll be able to make the mortgage payments if a home seller accepts your proposal.

A homebuyer who understands his or her budget can explore residences within a set price range. And ultimately, this homebuyer will be able to eliminate the chance of submitting a lowball offer on a house that he or she may be unable to afford down the line.

When in doubt, don’t be afraid to discuss your options with your real estate agent, too. This professional can offer insights into how much similar homes in an area have sold for recently, along with other housing market resources and tips to help you secure a house at a fair price.

Avoid the dangers of submitting a lowball offer on a home, and you’ll be better equipped to land your dream residence without delay.

When Should You Make An Offer On A Home?

You may have the notion as you’re searching for a house that the first bid will win when it comes to jumping at the chance to buy a home. That’s not always true. however, can waiting too long to put in an offer on a home be detrimental to your home search? We’ll go over some of the best advice as to what makes a good offer, and when the best time to put that offer in is.  

There’s actually no real set timeline for when you should put an offer in on a home. The real determination of this is the type of housing market that we’re in in at any particular time. A fast moving housing market can equate to the need for you to make an offer quickly. Most realtors will agree that you shouldn’t wait too long to put in an offer on a home that you like. 

If you have a good realtor, and you have done your homework as well, you’ll be able to make an educated offer. You’ll have done your due diligence if you have a pre-approval letter ready and understand a bit about the market itself, along with the pricing typical of the neighborhood where you’re interested in buying. Your realtor can help you to understand as to whether the offer you want to put in is a good one or not. 

Know What You Want

The most important part of putting in an offer on a home is knowing what you want in a  home. Before you get to the point where you actually want to put in offers, it’s a good idea to have searched a bit online, and even attended a few open houses in the area where you’re searching. This will give you a better idea of what’s out there in your price range.     

The First Offer Is The Best One

This is an old adage in the real estate business. If you’re a seller, you have to assume that what a buyer is offering is their top number. If other offers come in at a higher price, then buyers who were really interested in the home may be fresh out of luck. That’s why putting in a strong offer is so important. You don’t want to lose out on a home that you really want because you haven’t taken the time to understand what a good price point for a home in your neighborhood of choice is.

New Listings Have More Interest

Homes that have just been listed generate the most enthusiasm. Sometimes, the biggest part of putting an offer in on a home is trial and error. Many people will put in 2 to 3 offers before they finally secure the home of their dreams. Newer listings typically expect more for the price point the house is listed at. If a home has been listed for a short time, buyers can expect to pay close to the asking price for the home. Homes that have been on the market for a longer period of time have more negotiating power, giving the buyer a bit more wiggle room in their offer.  

The bottom line is that if you see a home that you love, you’ll want to put an offer in as soon as possible. When the market is hot, no home will last long. Be prepared to make an offer when you find that property you want so that the process will be a lot easier for you.  

Seven Steps to a Great Offer to Purchase

After lots of searching you have found the house that you’d like to call home. Next step, you’ll need to make an offer. Purchase contracts vary from state to state but a basic offer includes the price you’re willing to pay for the house, your financing terms, and contingencies.

When it is time to put your offer on paper you will want to make sure it is well planned. There are seven key elements to a good offer:

1. A realistic offering price

In order to put forth a great offer you will want to set your price based on similar homes recently sold in the neighborhood. Your real estate agent will help you look at comparable properties to determine that price. You will also want to keep in mind the state of the market in your area. If homes are selling quickly and receiving multiple offers, you’ll need to bid competitively. If home sales are slower you may want to be a little more conservative in your offer.

2. Realistic financing terms

Always make sure you are pre-approved for a loan before making an offer. Include proof that you are pre-approved with your offer, many lenders will give you a letter.

3. A property inspection clause

A home inspection clause will give you a chance to have the property inspected. You will want to use a professional home inspector to thoroughly inspect the property you are buying.

4. Any concessions or contingencies

Sometimes there are additional items that should be covered in the offer. You will want to outline any concessions like closing costs or repairs. If you are financing your home you will need to include a financing contingency.

5. Conveyances

Always put in the offer what is included in the sale. For instance, a washer and dryer or any other items that are included in the sale of the property.

6. A deadline

An offer should always include a deadline for a response.

7. It is all in writing

Everything should always be in writing. Never rely on verbal agreements.