You’ve found the perfect home and are ready to make an offer. It’s important not to let emotions take over, as real estate is an investment. Your real estate agent will help you craft an Offer to Purchase and guide you through the details. Here are some things to consider:
Offers can vary significantly – Most offers will typically consider factors such as price, deposit, terms (including financing details), conditions, items included or excluded with the property, and the settlement date.
Based on these, you can make a “firm” offer, indicating your willingness to purchase the home as-is. Alternatively, you could make a “conditional” offer contingent on a home inspection, finance approval, or sale of your current property.
The art of negotiation may come into play. The seller may accept your offer, reject it, or present a counteroffer based on considerations like price, settlement date, or other conditions. While receiving a counteroffer can be stressful, your real estate agent has the expertise to guide you.
Key tips for successful negotiation include making reasonable and fair requests, maintaining a polite and collaborative attitude, standing firm on your essential needs while staying flexible on your wants, and knowing when to walk away, even if you feel like it’s your dream home.