Step 5

Making an offer

Keep in mind that real estate is an investment and the offer process can be very stressful and it is recommended to not get emotionally attached to the first home you put an offer on. You must be mindful of the seller’s reaction to your offer and any conditions you put in the offer. Here are a few things to keep in mind:

Main Factors of most offers: Price, Deposit, Terms (financing details), Conditions, Inclusions, Exclusions and Closing Date. You then need to decide if you are going to make a “firm” offer which is buying the home as is or making a “conditional” offer which is subject to conditions like home inspection, finance approval, home insurance and sometimes on the sale of your current home.

Negotiating Process: The seller may accept your offer and terms or they may counter the offer back to you. Once there is an accepted offer, your agent should give you a full copy of all signed documents and start the process of the next step…