Your Guide to Writing an Offer as a Home Buyer.

If you're looking to buy a home, you may have seen real estate professionals posting about when to "make an offer." But what does that actually entail? Here's what you need to know about creating a successful offer.

First and foremost, it's important to understand that an offer is a legally binding document once all parties involved have signed it. Before you sign, take the time to answer all the questions thoroughly and review all the information.

Here are the key elements of a typical offer:

·      Offer Amount:

Your Realtor® will work with you to determine how much you want to offer the seller for their home. This amount will be one of the most important factors in the seller's decision to accept your offer.

·      Earnest Money Amount:

To show the seller that you're serious about buying their property, you'll need to include earnest money with your offer. This money is typically credited toward the purchase price at closing.

·      Target Closing Date:

A 30-45 day closing timeframe usually gives the lender, closing company, appraiser, and any contingencies enough time to complete the process. You'll need to decide on a date that works for you and the seller.

·      Inspection Period:

The inspection period gives you the chance to hire a home inspector to come through the property and identify any issues. Typically buyers ask for a 7 to 10-business-day period to conduct the inspection and decide how to proceed with the sale. During this period the buyer will have the option to conduct any inspection on the home at their own expense.

·      What Appliances Stay:

 It's important to specify which appliances you expect to be included in the sale. While most appliances are noted in the listing description, you should make sure they're also included in the purchase agreement.

·      Closing Costs:

Both the buyer and the seller have closing costs associated with the sale. Your lender will provide you with an estimate of your closing costs, which can include charges from originating the loan, prepaid costs, and more. You can ask the seller to cover a certain amount of your closing costs, but keep in mind that this may affect their decision to accept your offer.

While you may provide your terms initially, it's important to note that the seller has the option to either accept, reject, or propose a counteroffer to the original terms outlined in the purchase agreement.

Of course, there are many other factors that may come into play when making an offer on a home. Working with a knowledgeable and experienced real estate agent can help you navigate the process with confidence and increase your chances of success.