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Information on Making Real Estate Offers

Your search for the perfect home is over and you are ready to move ahead with an offer. Making an offer is not just writing a price down on a sheet of paper and submitting it to the seller or the seller's agent. Purchasing real estate is a major financial occurrence for all parties involved and therefore involves serious consideration.

The steps to making an offer are:

1. Determining a reasonable offer.
   As you should be aware by this point, advance preparation is an important tool throughout the home buying process. In order to determine a reasonable offer, you must once again complete your 'home'work.
2. Writing the purchase offer.
   The formal purchase offer addresses the details of the purchase. This would include the offer, the deposit amount, financing and any financing contingencies, closing costs, inspections and repairs resulting as a result thereof, personal property such as fixtures and appliances, timetables, and possession.
3. Submitting the purchase offer.
   Once the offer is submitted to the seller or the seller's agent, it is out of the buyer's hands. The seller will accept the offer, reject the offer, or make a counteroffer. If the offer is accepted, the purchase offer becomes a binding legal agreement and the parties move on to closing the sale. If the offer is rejected or a counteroffer is made, the parties move on to negotiations.

The home buying process can be an emotional experience. It is important that a buyer stay realistic. Do not get swept up in a deal that you cannot afford when all is said and done. Be prepared to walk away if necessary. A successful transaction is one in which all parties walk away knowing a reasonable agreement has been made.

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