How Long Does It Take to Prepare an Offer to Purchase a Home?

by Rebecca Hite 04/09/2019

If you find your dream house, you likely want to submit an offer to purchase this residence as soon as possible. That way, you can avoid the danger of losing your ideal residence to a rival homebuyer.

Although you may strive to quickly submit an offer to purchase your dream residence, it is important to allocate sufficient time to craft a competitive homebuying proposal. Ultimately, there are many reasons to be diligent as you prepare an offer to purchase, and these include:

1. You can avoid the risk of overpaying to acquire your dream house.

You want to buy your dream house, but at the same time, you don't want to pay too much for it. Fortunately, if you allocate time and resources to learn about a home's condition and the current state of the real estate market, you may be better equipped than ever before to submit a competitive offer to purchase.

Analyze a house's condition closely as you put together a property buying proposal. It often is beneficial to consider any potential home improvement projects as well.

Also, take a look at the prices of comparable houses in the same city or town as your dream residence. With this housing market data in hand, you can establish a price range for homes that are similar to your dream residence. Then, you can submit an offer to purchase that accounts for the present state of the housing market.

2. You can submit an offer to purchase that falls in line with a seller's expectations.

It usually is beneficial to consider the seller's perspective as you put together an offer to purchase. By doing so, you can craft a homebuying proposal that falls in line with a seller's expectations.

If you think about the seller's perspective, you may be able to avoid submitting a "lowball" offer to purchase. Because if you understand how a seller may perceive your homebuying proposal, you can submit a competitive offer to purchase that likely will make a positive impression on him or her.

3. You can increase the likelihood of receiving an instant "Yes" from a seller.

With a competitive offer to purchase, a seller may respond with an instant "Yes." As a result, if you craft a competitive homebuying proposal, you may be able to move forward with a home purchase and quickly acquire your dream residence.

As you navigate the real estate market and prepare an offer to purchase your dream house, you may want to work with a real estate agent. This housing market professional can offer honest, unbiased recommendations about how much you should offer to pay for a residence. And if your homebuying proposal is accepted, a real estate agent will help you finalize your house purchase too.

Ready to make your homeownership dream come true? Collaborate with a real estate agent, and you can get the help you need to find your dream home and submit a competitive offer to purchase this residence.

About the Author
Author

Rebecca Hite

Hi. I’m Rebecca. Check Out My Newest Listing!

Thanks for stopping by! Since you’re here, I’m assuming you’re in the market to buy or sell a home and not just whittling away your free time perusing Realtor websites. And, since there are about a gazillion Realtors out there, I’m just going to cut to the chase and tell you the most important thing you should know about working with me: When clients choose me, they are choosing a relationship, not just an agent.

I know, I know… it sounds trite. (I promise I’m not moonlighting as a Hallmark greeting card writer.) Stay with me for a moment and let me try and explain how serious I am about that statement…

There are 25,000 realtors in the marketplace.

It’s a really easy business to get into, yet realtors are dealing with people’s biggest investments. There are a lot of Real Estate Agents out there who are not good at taking that investment seriously. Some got into this business simply because they like to show homes. Others are focused more on the number of transactions they can close each month than on whether their clients are getting into the home that’s truly right for them. It’s unfortunate.

I don’t treat people like that. Since 2001, when I began building my business, I did it by building relationships. Rest assured that even when things get a bit chaotic (and they will!), nothing is going to slip through the cracks. I’m not looking to maximize my number of transactions per year – I am looking to a build long-term relationship with you. I want my clients to work with me every time they decide to sell or purchase a new home, and refer me with confidence to their friends and family.

Other things I think you should know about me:

  • My tagline says that integrity means everything, because to me it does.
  • I’ll never stop learning or assume I know it all. I take a lot of continuing education courses and if I don’t have an answer, I’ll be honest and then go find out!
  • I’m a Member of the 2016 and 2017 SMDRA Diamond Circle Club!
  • I value customer service. I know, I know… everyone says that. When you work with me, you’ll find out that it’s actually true.
  • I am honored to have won the 5280 Five Star Professional Real Estate Agent Award 7 years running. This recognition is based solely upon customer satisfaction ratings for exceptional service and overall satisfaction.
  • Entex Information Service –  1981-2001 – 20 years! – Vice President of Sales
  • Information Technology Services for Fortune 500 Companies, including hardware, software sales, help desk implementation, infrastructure redesign and computer services. Procurement Optimization, Help Desk Installation, Process Management, Deployment Implementation, Sales, Marketing, Management, Mergers and Acquisition, Human Resource Planning, Contract Negotiation.
  • Specialties: Sales and Marketing, Process Management
  • Started at Business Land as a corporate account manager on-site at Bain Consulting Services. Trained with the Fortune 50 accounts for business development, process design, management, marketing and customer service.  Top Apple sales representative in the country for the Insurance Industry.  Promoted to Sales Manager, Director of Corporate Accounts, General Manager and ultimately Vice President of Sales.  Directly responsible for the P&L of $100,000 in gross revenue and 5% EBITDA with 350 employees in 8 states.
  • Historic Denver Certification – Understanding & Selling Denver’s Historic Homes & Neighborhoods. Historic Denver, Inc. protects the historic neighborhoods that make Denver unique. In the 1970s Denver’s historic structures faced demolition in epic numbers. Historic Denver, Inc. helped save one of our city’s most celebrated historic homes – that of “unsinkable” Molly Brown. Since then Historic Denver has been the leading voice for preservation through Advocacy, Education, and Technical Assistance. Historic Denver, Inc….
  • When clients choose me, they are choosing a relationship, not just an agent. If that sounds like the kind of Realtor you want to work with, we should talk. Pick up the phone, and tell me what I can do for you.

~Rebecca
303-929-3555