Typically, when homebuyers are ready to make an offer, they meet with the real estate agent and complete the Offer to Purchase form together. You may also want to write your offer with the help of an attorney. Although you can prepare an offer yourself, it is not recommended.

An Offer to Purchase includes detailed, complex information. If you try to write an offer by yourself, you may make mistakes, omit or include items that would put you at a disadvantage relative to other buyers or trap yourself into an agreement that is not in your best interest.

When you are ready to make an offer, get a copy of your state’s form from the real estate agent and look it over carefully. Have either the real estate agent or an attorney thoroughly explain every item on the form to you so that you understand exactly what you are committing to before you actually write an offer.

Making the offer:

There are many factors that may influence the amount you would offer for a home:

• How much you can afford.
• How badly you want the house.
• How many other buyers are interested.
• How motivated you think the seller is.
• How much work might need to be done on the house.
• How the property compares with other similar properties

SUBMITTING AN OFFER

Once you have found the right property, the next step is to make a purchase offer to the
seller.

Determine the price you want to offer

• The price the seller is asking may or may not reflect realistic market value.
• The best way to determine market value is with a Comparative Market Analysis
  (CMA) showing similar properties that sold recently, those that are currently active
  on the market and those that failed to sell.
• I will discuss with you an estimate of costs associated with purchasing this property.

Decide on financing

• We will review together the status of your loan pre-approval.
• We will work together with your loan officer to explain financing options and help
  you determine the mortgage plan that best fits your requirements.

Decide on other issues that are important to you, such as:

• Items of personal property you want included with the house.
• Warranty, inspections, repairs or other home enhancements by the seller.
• Closing date and possession.

I will present your offer

• The seller will have three choices: accept your offer as it is presented; reject it
  completely; or propose adjustments to your offer (counter offer).
• If there is a counter offer, you can choose whether to accept it, reject it or counter it.

Once you have reached agreement with the seller, you will have a firm contract to
purchase the home.