Virginia Gardner

Back To Blog

5 Tips for Making Your Best Offer

5 Tips for Making Your Best Offer | Simplifying The Market

In todays sellers market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyerdemand. If youre buying this fall, youll want every advantage, especially when youve found the home of your dreams.

Below are five things to keep in mind when its time to make an offer.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.

Showing sellers youre serious can give you a competitive edge. It enables you to act quickly when youve found your perfect home.

2. Be Prepared To Move Fast

Speed and the pace of sales are contributing factors to todays competitive housing market. According to the latestExisting Home Sales Report from theNational Association of Realtors(NAR), the average home is on the market for just17 days. As the report notes:

Eighty-nine percent of homes sold in July 2021 were on the market for less than a month.

When homes are selling fast, staying on top of the market and moving quickly are key. After youve worked with your agent to find the home that suits your needs, theyll help you put together and submit your best offer as soon as possible.

3. A Real Estate Professional Can Lead You to Victory

No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac says:

The success of your homebuying journey largely depends on the company you keep. . . . be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.

Agents are experts in the local real estate market. They have insight into whats worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller may need can help your offer stand out.

4. Craft a Strong, Fair Offer

In the past, offering at or near theasking pricewas enough to make your offer appealing to sellers. In todays market, thats often not the case.According tothe latest Realtors Confidence Index from NAR, 50% of offers are above the list price.

In such a competitive market, emotions and prices can run high. Having an agent to help craft a strong, fair offer is critical in these situations. Your agent can help you understand:

  • The market value of the home
  • Recent sales trends in the area
  • Current buyer demand

5. Understand the Sellers Needs, but Resist Waiving Certain Contingencies

When crafting an offer, youll want to keep both your best interest and the interest of the seller in mind. Your trusted real estate advisor will help you consider which levers you could pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you dont want to give up, like the home inspection.

Freddie Mac explains:

Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold as-is, which means the seller wont pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you cant afford to fix.

Bottom Line

Todays competitive housing market makes it more important than ever to make a strong offer on a home. Lets connect to make sure your offer rises to the top.

Add Comment

Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.


  1. No comments. Be the first to comment.