Once you have found a home you are interested in purchasing, you must make the offer. Assuming you have already been pre-qualified by your real estate agent, or a lender, you should know what size mortgage you can afford.
After you have determined how much you are qualified for, you have to decide what to offer. This is a personal choice and one that you and your real estate agent can decide together. If you like the bargaining game, you can try starting out low and working your way up the negotiating ladder. If you prefer to get right to the point, you can present your only and best offer, and see how the seller will react. If you are like most people, you will start off a little lower than you wish to pay and work your way up until you and the seller reach a mutual agreement.
When deciding the initial offering price, you may want to consider these important questions:
Once you and your agent complete your offer to purchase, it will be presented to the sellers. It may take a couple of days to get an answer, so be patient. The seller has the choice of either accepting your offer, rejecting your offer, or providing a counter offer. Once your offer has been presented, the negotiations have begun. Good luck!