Las Cruces Real Estate | Homebuying-101: Making an Offer
In today's session of Homebuying-101, we're going to discuss the process of making an offer. Creating an appealing offer is critical in influencing the outcome of your home search. If you've missed any of our Homebuying-101 videos so far, you can find them here.
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:
- First, you’ll view a house and decide you want to make an offer.
- Our team will do a market analysis of the property to help you decide what a solid offer on the property looks like.
- We will help you write an offer letter and send it to the seller, or seller’s realtor.
- The seller will respond in one of four 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.
- You could find yourself in a multiple-offer situation. In this situation, the seller may ask you to present your highest and best offer, which would be the best that you’re comfortable offering for the home.
- 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.
If you have questions or are ready to begin the home buying process, you can reach out to us here, or you can find our contact info below.
#RealEstate #Realtor #RealtorLife #LasCrucesNM #LasCrucesRealEstate #RealEstateTips #RealEstateResources #Homebuying101