Making an offer is one of the most important steps in the homebuying process, and it’s important to stand out to sellers. Below are some essential do’s and don’ts to keep in mind when preparing an offer.
Do’s
1. Get Pre-Approved Before Submitting an Offer
Buyers who have a pre-approval letter from a lender show that they are financially ready and reliable. This document proves to sellers that financing has already been verified, which can make an offer stand out when there are multiple offers.
2. Work with an Experienced Real Estate Agent
A qualified real estate agent can help put together an offer strategically, compare sales, and guide buyers through each step of the process. Agents also make sure that all required forms and conditions are included properly.
3. Prepare to Act Quickly
Being prepared and getting pre-approved for a mortgage helps ensure an offer can be submitted quickly once a property becomes available.
Don’ts
1. Over-Negotiate
Over-negotiating the price or credits before an offer is accepted can discourage sellers. It can be more effective to get an offer accepted and then negotiate after inspections, when you have reports to support your repair requests, credits, or price adjustments.
2. Overlook Contract Details
Real estate contracts include important details such as closing dates and required deposits. These can affect the outcome of a transaction. Therefore, carefully reviewing with professional guidance is essential.
3. Skip Professional Advice
Attempting to write or submit an offer without an agent or lender can lead to missed details. Real estate and mortgage professionals help ensure everything is done right and the process goes smoothly.
The Bottom Line
A strong real estate agent offers balance, preparation, clarity, and timing. By following these dos and avoiding the don’ts, buyers can improve their chances of securing the right property on the right terms.
If you have further questions, please contact our office at (760) 930-0569 to speak with one of our Mortgage Loan Originators.
