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Step 6 - Make the offer

Now that you have made a choice, it is now time to make an offer
to the seller.

The process
● You make an offer in writing
● The seller accepts, rejects or counter with a different offer
● You can accept or make another counter offer.
● This negotiation continues until there is acceptance or someone
decides to end the negotiation and walk away.
● If there is acceptance, an agreement is signed outlining the
terms and conditions, including the closing date.

Remember to rely on your team member’s expertise to help you
in this section. Your realtor has been through this process countless
times. They should know what to say and what to do. Let them
earn every penny of their commission.

The most important factors to consider when making an offer are:
1. Price - Buy a house that you can afford. Paying more than
your income can support is a recipe for disaster down the road.
Stick to your wishlist price, if that is what you can afford. The
last thing you want is a foreclosed notice in your mail. Make
sure you consider everything. Look at the Buyers walkthrough
assessment form for areas that can buy you leverage. Look at
things that need fixing and estimate (from your
contractor/handyman) how much you will need to layout to
make them good again. Consider the seller’s situation. Is he
desperate to sell, forced to sell or not in a hurry?
2. Comparable market value - This is an average of what others
pay for houses similar to yours in the area. You certainly don’t
want to pay more than others for the same house.

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