Making an Offer to Purchase Your Dream Home

By now you should have spoken to your Mortgage Broker, prepared a budget and have your mortgage pre-approval letter hand and know exactly what your mortgage rate is and your monthly mortgage payment. More importantly you know how much you can afford. You have researched, found your dream home and you’re ready to buy.  Now it’s time to make an offer.

As you begin the negotiations, keep 3 things in mind:

  • Don’t be intimidated or stressed out.
  • Know your offer limits.
  • Don’t let bidding wars take you out of your budget.

What to include in your offer:

making an offerSince the offer to purchase is a legal document, you may want to consider working with a real estate agent or lawyer. This is to ensure that you have identified and detailed all the terms to include. A real estate agent will also help you complete your offer. Things to include are:

  • Offer and Deposit amount.
  • Closing date.
  • Other conditions you want to be met.

You can also offer ‘contingencies’ before closing like:

Making an Offer that Stands Out

Although terms may change during negotiations, it’s best to present your best offer first. Here are some tips to help you:

  • Look at the property’s time on the market.
  • Ask your agent for prices of similar properties in the neighborhood.
  • Identify if anything will need to be replaced/upgraded.

After First Offer

Be prepared for negotiations with the seller, and knowing how flexible you can be with your offers. Feel free to ask your agent for guidance!

Our Sunlite Mortgage agents will walk you through the choices available and help you identify the most suitable mortgage product to your current situation. All while looking at your short to long-term goals. Call A Sunlite Mortgage agent today at (877) 385-6267 and we will be happy to help you with a mortgage!

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