Ready To Make An Offer? Watch This.
Before the offer to purchase is created, you must be at least pre-qualified or, better yet, pre-approved by a lender, unless you are paying cash.
A pre-approval letter is one of the best negotiating tools a buyer can have. It shows the seller that you are financially able to purchase the home. After you have found the right home, it is time to prepare the offer.
Now, let’s break down exactly how the offer-making process works. Here are the steps:
1. First, you’ll view a house and decide you want to make an offer.
2. Our team will do an analysis of the property to help you decide what a solid offer on the property looks like.
3. We will help you write an offer letter and send it to the seller. The seller will respond in one of three ways:
The seller accepts the offer. Everyone is happy and as soon as both sides sign the offer letter, you’re officially under contract and on your way to buying a house!
The seller makes a counteroffer. You can either accept this counteroffer, go back with another offer of your own, or walk away.
The seller declines the offer. You could then try to make a more appealing offer, if your budget allows, or move on to find another house.
Keep in mind, when you are buying a home, there are many problems that the seller is obligated to disclose. In Arizona, sellers are required to share any information that may influence the consideration a buyer might pay for the home.
Knowing all you can about a prospective home, not only helps you decide if it's the home of your dreams, but what offer to make as well. Your real estate professional can help you get your key questions answered and give you advice on how to evaluate your findings.