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A first-time buyer guide to making an offer on a home

Categories: Pittsburgh on your lot builder | Posted: December 20, 2019 | Comments Off on A first-time buyer guide to making an offer on a home

 

 

If a new home is on your Christmas list this season, you have probably been searching online, attending more open-houses than you would like to admit and already been approved for your loan. If Christmas has come early and you found the home that feels like “the one,” you might be ready to make your first offer! Parry Custom Homes, a premier Pittsburgh on your lot builder, shares tips on what you should know when making an offer on a home.

First, have confidence in your search experience. If you have been looking for homes for a while, narrowed down what you want and need in a home and the location in which you want to live, don’t second guess yourself when it comes time to make an offer on a home! Trust the time and effort you have put into the experience will lead you to the right home.

Next, learn everything you can before deciding on your offer. For example, know the story of the listing. Know how long the home has been on the market, if there are other offers on the table, and if there is a certain day or time that the sellers are going to look at the offers. Knowing these things in advance can be crucial in not only what you offer, but when you need to have an offer made by.

Then, you want to review the comps in the area that you are looking to make an offer. Your agent should send you the last six months of recent sales data to review and compare in terms of what is a fair offer for the home your are interested in.

Be sure to look at the most recent pending sales in the area. Those will represent the most recent sales in the market and you can figure out a ballpark selling price.

Next, be sure to give your lender a heads up before you make an official offer. You will need to get a pre-approval letter to go with your offer and you will also want to be sure and have updated mortgage rates since these changes daily.

Then, discuss the terms that you want to plan for such as how long will your inspections take, do you want to close quickly or do you need longer, and so on. Remember that terms can be a make or break deal as well. If the seller wants a quick close, they will most likely go with the buyer that can give them that. If you are competing with an all-cash offer, make sure your loan terms are foolproof.

Lastly, remember that there are indeed other houses out there! Sometimes you don’t get the first home you put an offer on. While it can be disheartening, there are always other homes for sale at any given time.

So, keep on searching for your new home until you find (and close) on the home of your dreams!

 

Parry Custom Homes is an established homebuilder in the Pittsburgh area.  Call or contact us today for more information about this floor plan option, or to view other homes in our portfolio that may suit your new home needs.

Parry Custom Homes
Parry Custom Homes is a custom home builder in Pittsburgh, PA. A local on your lot builder, we build throughout the Pittsburgh Suburbs in communities and on private home owner sites.

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