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What You Need to Know About Making an Offer

Saturday, September 14, 2019   /   by Shannon Eagan

What You Need to Know About Making an Offer

You've narrowed down your wish list, viewed many homes, and finally found your perfect fit! Time to take the leap and make an offer!


This can be both incredibly intimidating and exponentially exciting. So, how can you throw your hat into the ring with confidence? Here's what you need to know to make an offer like a boss!


Determine Your Price Limit.Work with your agent to determine if the seller's listing price is fair based on similar home sales in the area, interest in the home, time on the market, etc. Next, figure out the max offer price you are willing to reach that isn't too financially taxing and settle on what your starting offer price will be.


Add Contingencies.Any home sale generally comes with a set of contingencies that must be met before it can be completed. These can include inspections, repairs, appraisals, and more. These need to be selected carefully, as an offer with too many may be less appealing to the seller.


Set Your Settlement Date.When you submit an offer, you must present a date to settle, generally about 60 days after the purchase agreement is signed. You want to give yourself enough time to meet your end of the contingencies, secure mortgage approval, finalize loan details, and more. If you are the responsible party for a delay, you may have to compensate the seller.


Prepare For a Counteroffer. You may be going up against other offers or the seller may negotiate, so it's best to prepare ahead of time for a counteroffer. But this isn't anything to stress about. Talk through the best strategies with your real estate agent.


Want more information on the local market??


We can help with that! Give us a call at 704.467.8877 to get started!

Yancey Realty LLC
Franklin Yancey
2108 S. Blvd Suite 118
Charlotte, NC 28203
704-577-9055

Based on information submitted to the MLS GRID as of 10/16/2021 4:41 PM CST. All data is obtained from various sources and may not have been verified by broker of MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.
Information Deemed Reliable But Not Guaranteed.
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