Putting in an Offer
Putting in an offer can be one of the most daunting parts of the whole home buying process.
- How much do I offer?
- Am I overpaying?
- Will they be insulted by my offer?
- What conditions am I supposed to put in?
A couple of things to remember:
- This is a really big part of the process, so taking your time to get it right is okay.
- Don’t be pressured to write down a higher number or remove conditions that you are comfortable with out of fear you might miss out.
- It’s a good idea to get your lawyer to look over the Sale and Purchase Agreement before you sign it – while changes can be made after you have signed it, it is A LOT harder than if you get it reviewed and make changes prior.
Even with offers there are different types:
- You are the sole person offering and you can make an offer as you please – there is a good chance that the seller will come back with a counter-offer, and there will be a negotiation. This is normal.
- You are in a multi-offer – this means multiple people are presenting offers at the same time. There are some strict rules real estate agents much follow for this type of process but basically you are not going to know what other people are going to offer, so you need to put in a price you are comfortable with. In this situation, the more attractive you can make your offer the better really – this isn’t just price, but possibly less conditions. But remember, as I mentioned above, don’t remove conditions you are not comfortable with.