The Process of making an Offer
When it comes time to determining the dollar amount of your offer, I can provide information on the prices of similar homes that are currently on the market and those that have sold recently in the surrounding area. Then you'll be better prepared to make an informed decision.
Find out how motivated the seller is. The house may have been on the market for quite some time and the vendor may have other obligations. Find out if the asking price has been reduced. It's also good to know when and for how much the vendors purchased the home. Vendors who have accumulated considerable equity will be willing to bargain more than those who may be faced with an overall loss.
You'll probably wish to make an initial offer that is lower that what you would actually be willing to pay.
Once you have decided on the initial price, terms and conditions, I will communicate your offer, sometimes known as an offer to purchase to the seller, or the seller's representative, on your behalf.
Accepted and Rejected Offer
If the seller accepts the offer, congratulations, you're the proud owner of a new home! If you don't hear back, the seller has rejected the offer. You may want to make another one, or simply look at other houses that interest you.
Most often, you'll receive a counter to your offer. You can choose to accept it, or respond with another counter offer. This process will continue until one side accepts or quits.
Reminder: The home inspector does not pass or fail the property.
