How do I make an offer on a home?

How do I make an offer on a home?

Want the seller to say YES? Read this and make an offer that wins.

Quick, direct answer: How to make an offer on a home

Making an offer on a home is a five-step process: get pre-approved, set your price and terms, write a clear purchase offer, submit it through your realtor, and close after inspections and financing clear. Do each step sharply. Small details decide whether the seller chooses you.

Step-by-step: Exact actions to take now

• Get mortgage pre-approval

• Contact a lender and get a pre-approval letter. This proves you can pay and speeds closing. Use a local lender when possible.

• Research comps and set an offer price

• Your agent pulls 3–6 recent comparable sales. Aim for a fair, data-backed offer. In a bidding war, add an escalation clause or increased deposit.

• Decide your non-price terms (these win deals)

• Deposit/earnest money: 1–5% typical.
• Closing date: match seller’s preferred closing if you can.
• Inclusions: appliances, fixtures — list them.
• Contingencies: inspection, financing, appraisal. Fewer contingencies make offers stronger, but waiving them raises risk.

• Write the purchase offer

• Use standard local real estate forms completed by your agent.
• Include: offer price, deposit amount, financing details, contingency deadlines, closing date, expiry time, and escalation clause if needed.
• Attach pre-approval letter and proof of funds.

• Submit, negotiate, and finalize

• Submit through your agent. Expect counteroffers.
• Respond fast. Counter replies within hours look committed.
• When both parties sign, arrange inspections and finalize mortgage docs.

Inspection, financing and closing — what to track

• Book a home inspection within the inspection contingency period (usually 5–10 days).
• If issues appear, negotiate repairs, credits, or price reduction. Be decisive.
• Confirm appraisal meets the offer price. If it doesn't, be ready to bridge the gap or renegotiate.
• Finalize homeowner’s insurance and wiring instructions for closing funds.

Tactical tips that win more offers

• Submit a clean, well-documented offer with pre-approval and proof of funds.
• Offer flexible closing dates and reasonable possession timing.
• Use a personal cover letter sparingly — only when market norms favor it.
• Consider an escalation clause to beat competing bids without overpaying.
• Keep key contingency deadlines short and clear.

Why work with a proven local agent

A skilled local realtor knows pricing nuances, seller motivations, and how to structure terms that get accepted. That expertise reduces risk and speeds closing.

Ready to make an offer that gets accepted? Contact Tony Sousa for expert guidance and fast execution: [email protected] | 416-477-2620 | https://www.sousasells.ca