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Step 6: Making an Offer Maryland

Once you've found the right home, the next step is to make an offer to the seller.

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Family First Mortgage Group LLC
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SunTrust Mortgage
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Allied Home Mortgage Capital Corporation
410-783-9407
516 N Charles St
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Baltimore HUD Homes
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American Home Loans
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This can be a nerve wracking step in the home buying process, especially since you stand to spend a great deal of money and there is a chance that the seller will reject your offer. Here a few things to keep in mind when making an offer on a home.

You Don’t Have to Offer the Asking Price

Remember, an asking price is just that. Work with your real estate agent to choose the right price for your first offer. Some things to consider: what other homes in the area are selling for, the condition of the home, and how long the home has been on the market.

A home that needs considerable repairs and updates or one that has been on the market for a long time may warrant making an offer that is lower than the seller’s asking price. But if the house is in excellent condition and has gotten a great deal of attention from other buyers, it might mean that your offer should stick closer to the asking price, or even be higher.

Keep in Mind Your Bargaining Chips

Remember that price isn’t everything. Getting preapproved for your mortgage, not having a sale contingency and being flexible on the closing date can all make your offer more attractive. Contingencies can also include home repairs and leaving major appliances. There may be other parts of the contract that are important to the seller; being flexible will help you. The easier you make the deal for the seller, the better change you have of having your offer accepted.

Put it in Writing

Once you and the seller have agreed on an offer, make sure everything is in writing, even things that may not seem important. Perhaps you asked the seller to include drapes or bookshelves. To ensure those items are included in the deal, put them in the contract.

Published on January 20, 2007

Read full article at realestate.com

Featured Local Company

Admiral Mortgage

410-559-6491
25 S Charles St
Baltimore, MD

Read more about Step 6: Making an Offer

- Step 3: Mortgage Pre-Approval Maryland

Getting pre-approved by a lender before shopping for a home helps you in two ways.

- Top 10 Things Not to Do When Making an Offer on a Home Maryland
- Step 9: Home Inspection and Appraisal Maryland
- How to Find an Apartment After Foreclosure Maryland
- Home purchase offer: Breaking the contract Maryland
- Step 8: Locking in Your Rate and Points Maryland
- Checklist: Making an Offer Maryland
- Step 4: Reviewing and Negotiating Home Sale Offers Maryland
- How to Sell a Home Without a Real Estate Agent Maryland
- How much should you offer for that home? Maryland

Regional Articles

- Checklist: Making an Offer Maryland

So you've found the perfect house and now you're ready to make an offer

- How to Sell a Home Without a Real Estate Agent Maryland
- Step 3: Mortgage Pre-Approval Maryland
- How much should you offer for that home? Maryland
- How to Find an Apartment After Foreclosure Maryland
- Home purchase offer: Breaking the contract Maryland
- Step 8: Locking in Your Rate and Points Maryland
- Top 10 Things Not to Do When Making an Offer on a Home Maryland
- Step 4: Reviewing and Negotiating Home Sale Offers Maryland
- Step 9: Home Inspection and Appraisal Maryland

Related Local Event

Free Introductury Real Estate Investing Class
Dates: 6/30/2009 - 6/30/2009
Location: Investors United School of Real Estate
Baltimore, MD
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Construction	Health	Miscellaneous	Trade Shows
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Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History