Making your offer on a home

You've found the home you've been searching for and now it's time to make an offer.


Through this phase, you’ll work closely with your real estate agent. They’ll help determine a fair offer price while making sure you stay within range of what you can afford. They’ll also handle all contract negotiations with the seller’s agent.

The 4 steps to making an offer

You’ve found the perfect home, have your pre-approval letter in hand and are ready to make an offer.  Now what?

  1. Determining the Price

    Your real estate agent will help you determine a fair offer price for the home based on their experience and following key considerations:

    • Recent sales prices of similar homes in the same neighborhood.
    • The condition of the house.
    • What you are willing to pay and can comfortably afford.
  2. Submitting the Offer

    Once you've determined your price, your agent will draw up the offer (or purchase agreement) to submit to the seller's real estate agent. The offer will include the purchase price and terms and conditions of the purchase, including:

    • Target closing date.
    • Provisions for certain fees.
    • A deadline for the seller to accept or counter your offer (typically one to two days).
    • Any contingencies, which are conditions that must be met before you purchase the home.
  3. Negotiating the Offer

    The seller will often counter your purchase offer, typically asking for a higher purchase price or to adjust the closing date. In these cases, the seller's agent will submit a counteroffer to your agent, detailing the desired changes. You have the option to accept, reject or counter it again. Your agent will play a large role during this part of the process, communicating all changes with the seller's agent.

  4. Finalizing the Contract

    The contract is considered final when both parties sign the written offer.

    Your next step is closing, the last step before you get the keys to your new home.

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Inspecting and appraising