Making an offer on a home can be intimidating, especially in competitive markets. You want to be sure your offer is not only appealing to the owner, but clear and professional so there is no hesitation on the seller’s part. Beyond the obvious, such as including your full legal name and the address of the home, here is what should be included in your offer.
The Price
This is the most important part of the offer—the seller needs to know how much you’re offering so they can compare it with any other offers; or so they can negotiate the offer if you’re in a less competitive market.
Conditions
What conditions are you imparting with the offer? Typical conditions surround financing, chattels (movable items such as appliances and fixtures) and home inspections. If you’re in a competitive market with multiple bids, however, too many conditions could get you a rejection and could lead to the acceptance of another, easier offer.
Deposit
This tells the seller how much you’re putting down on the home, and shows how serious you are about owning it. Your real estate agent will guide you in how much you should be offering for the deposit.
Dates
You’ll want to include both the closing sale date—when you officially take possession of the home and are able to move in—and the date the offer expires. If your offer is available to the buyer for too long, it leaves room for them to receive and accept another offer, so a short window before it expires is ideal in securing a ‘yes.’
