HomeTalk

Making an Offer on a Home Soon? Be Prepared with 7 Expert Tips

Written by Heather Colby | May 30, 2015 8:04:00 PM

You’ve searched high and low for your dream home for months. And now, you think you’ve found the one.

It has the upgraded kitchen you’ve always dreamed of. 

The family room is sure to fit your comfy sectional. And the pool would be perfect for hosting your family’s famous 4th of July party and New Year's Eve celebration. 

Stop! Before you making an offer, you need to do some more thinking.

Consider these 7 smart tips from our experienced Realtors, Frankie Miguel and Autumn Makin-

1. Be Financially Prepared and In-Agreement
"When making an offer on a property, buyers should consider numerous factors before committing to purchase. Once you have your financing in order and are prepared to submit an offer, it is vital that everyone making the purchase is in agreement with the property. Essentially, you need to know exactly what you want before you commit to buy."-Frankie
2. Know What You’ll Compromise On
"If the property lacks certain features that you must have, then you may want to consider different properties. A seller will not compromise the purchase price based on your desires. Equally so, do not feel the pressure to settle for a lesser property, if it does not meet your desired criteria. Know ahead of time which features you must have and which features can be compromised. This will help alleviate stress when it comes time to make an offer." -Frankie
3. Consider Monthly Payments
"I think it's very important to speak with your lender about not only what you qualify for, but also what you can really expect in regards to a monthly payment. Different factors from HOA fees, taxes, and sneaky PUD's can really change the affordability of a home!"-Autumn
4. Determine Current Market Value
"Have your agent pull the recent activity in the neighborhood to make sure the property is listed at current market value."-Autumn
5. Be Ready For Competition
"Be Prepared. If there are multiple offers on the property, forget the bargain! If you aren't in love with the home, move on! If not, be prepared to possibly offer full price or above to have a leg up on the competition!"-Autumn
6. Really Know The Area
"Most importantly, be sure to check out the area. From schools to future development, location should be one of your top focuses when purchasing. From the quality of life, to the integrity of the investment, don't get hung up on a few thousand dollars and sacrifice location!"-Autumn
7. Choose The Right Agent
"Pick an agent that is respectful of what your needs are. An agent is simply a guide; the decision is personal. Happy Hunting!"-Autumn  

Closely examine the home from a personal and financial standpoint when making an offer. Don’t be afraid to ask questions and get a professional’s opinion. From the initial search all the way to the closing table, your Realtor can help guide you throughout the home buying process. 

Once an offer is accepted, you’ll be sipping fruity drinks by your new pool in no time!