Eight Tips to Know When Making an Offer on a Home

Are you getting ready to buy a home? If you’re brand new to the process, or it’s been a while since you last took the plunge, there are some tips you need to know. The more you know about how the process works, what goes into a successful bid and how to get the concessions you want, the better off you’ll be and the more likely you’ll be to get the home you want. Here’s how to make an offer and negotiate a house offer in Alpine, TX:

  • Work with an agent: The best thing you can do to make sure you get a great deal is work with a real estate agent. They’ll be able to help you identify great homes that fit within your budget, the level of renovations you’re willing to perform and your absolute must-haves.
  • Know your budget and your limits: This is the time to review your “must-haves” along with your budget and lifestyle. Your agent will help you make an offer, but they have to know what they’re working with first. For example, if you want to avoid the hassle of an HOA, tell them ahead of time. You’ll also need to know how much you can afford to pay per month and put down as a down payment.
  • Review sample contracts: Although your real estate agent will the be resident expert, it behooves you to get familiar with sample contracts. Google or ask your agent for some sample contracts so you can learn the language, terms and conditions used.
  • Figure out your initial offer price: How much are you willing to offer on your dream home? Your agent will help you determine a fair price by comparing your potential home and offer price to similar winning bids in the area.
  • Look at the contingencies: Most home contracts have contingencies, like home inspections, that must be fulfilled before the contract can be finalized. Otherwise, either the buyer or the seller can walk away. Things like financing, home title, inspections and home sale contingencies are all common.
  • Make a deposit to show you’re serious: If you want the seller to know you’re serious about your offer, have your agent help you put a deposit down.
  • Write a letter to the seller: Another way to show the seller you’re serious—and maybe even tug at their heartstrings—is to write them a letter telling them why you want to buy the home. Is it the perfect place to raise your family? Do you have special ties to the community that make this your ideal home? Tell them why their house, in particular, is so attractive to you.
  • Read the fine print: Finally, make sure you read the fine print before you sign on the dotted line. Not only will it tell you what you’re dealing with in terms of utilities, appliances, fixtures and more, but it can also be a great negotiation tool.

Are you looking to make or negotiate an offer on a house in Alpine, TX? Call Carpenter Real Estate today. We can help you find and make a great offer on the house of your dreams.