Congratulations! So you've found a home you love. Now you need to make a compelling offer. Look to your agent to explain the process and guide you through. Ultimately, the right price to offer must fairly reflect the true market value of the home you want to buy. Your agent's market research will help guide this decision.
The three basic components of your purchase offer are price, terms, and contingencies.
Price is obviously the dollar amount you are approved for, willing and able to pay.
Terms cover the other financial and timing factors that will be included in the offer.
Contingencies are clauses that let you out of the deal if the house has a problem that didn’t exist or which you weren’t aware of when you went under contract. They specify any event that will need to take place in order for you to fulfill the contract.
Your First Home Gary Keller's book Your First Home: The Proven Path to Home Ownership is designed to help you, the buyer, navigate through the potential twists, turns, and confusion of the home-buying process. If you aspire to own a home of your own, ask an agent for a free copy of the book, or order one here.
