Thinking of Making an Offer? 4 Tips for Success

So you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market that you want to make sure you make a good offer so that you can guarantee your dream of making this house yours comes true!

Freddie Mac covered “4 Tips for Making an Offer” in their latest Executive Perspective. Here are the 4 Tips they covered along with some additional information for your consideration:

1. Understand How Much You Can Afford

“While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”

This ‘tip’ or ‘step’ really should take place before you start your home search process.

As we’ve mentioned before, getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).

2. Act Fast

“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.”

According to the latest Existing Home Sales Report, the inventory of homes for sale is currently at a 3.6-month supply; This is well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.

Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.

3. Make a Solid Offer

Freddie Mac offers this advice to help make your offer the strongest it can be:

“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”

Consider ways of making your offer stand out! Many buyers write a personal letter to the seller letting them know how much they would love to be the new homeowners. Your agent will be able to help you figure out if there are any other ways your offer could stand out above the rest.

4. Be Prepared to Negotiate

“It’s likely that you’ll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you’ll be glad you did your homework first to understand how much you can afford.

Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”

If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home.” If the inspection uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made, with the seller, or cancel the contract.

Bottom Line 

Whether buying your first home or your fifth, having a local professional on your side who is an expert in their market is your best bet to make sure the process goes smoothly. Give me a call and we’ll make it happen – J.P. Cook – 602-320-4253.

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2944 N Meadow Lane Avondale, AZ 85392

$550,000

5 Beds

3.5 Baths

3,630 SqFt

Status Active

MLS # 6741750

Property Type Single Family Residence

Price Type --

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$550,000

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2 Baths

1,752 SqFt

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Property Type Single Family Residence

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26264 N 43rd Place Phoenix, AZ 85050

$550,000

3 Beds

2 Baths

1,508 SqFt

Status Active

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Property Type Single Family Residence

Price Type --

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$550,000

5 Beds

4 Baths

2,136 SqFt

Status Active

MLS # 6738358

Property Type Single Family Residence

Price Type --

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2939 W Plum Hollow Drive Anthem, AZ 85086

$550,000

3 Beds

3 Baths

1,957 SqFt

Status Active

MLS # 6738833

Property Type Single Family Residence

Price Type --

Nestled in the guarded and private Anthem Country Club, this lovely 3 bedroom and 3 bath home features a 216 sq. ft. Casita and a 1,741 sq. ft. main house with two bedrooms plus a den. The secondary bathroom boasts an upgraded shower, while the primary suite offers double sinks, a separate tub and shower, and a walk-in closet. Hardwood floors adorn the bedrooms and den, and ceiling fans are installed throughout. The kitchen is equipped with stainless appliances, including a gas range and microwave, and skylights brighten both the master bedroom and kitchen. Additional amenities include a laundry room with gas and electric hookups, a two-car garage, and a low-maintenance backyard with no rear neighbors, making it an easy lock-and-leave property. See more info about the community... Residents of Anthem Country Club enjoy a luxurious lifestyle with resort-style amenities. Professionally managed by Club Corp, members get reciprocal privileges around the world. The club features two 18-hole golf courses (Golf membership not included) and two member restaurants. Fitness enthusiasts will appreciate the two state-of-the-art gyms, two pools, two spas, and several tennis courts. All surrounded by stunning mountain and golf course views. This guarded community offers an unbeatable combination of location and luxury, making it a must-see for those seeking a an elevated lifestyle.

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2522 N 11th Street Phoenix, AZ 85006

$550,000

3 Beds

2 Baths

1,111 SqFt

Status Active

MLS # 6742322

Property Type Single Family Residence

Price Type --

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20063 N 98th Avenue Peoria, AZ 85382

$550,000

2 Beds

2 Baths

1,858 SqFt

Status Active

MLS # 6747446

Property Type Single Family Residence

Price Type --

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14867 W Windsor Avenue Goodyear, AZ 85395

$550,000

4 Beds

3 Baths

3,098 SqFt

Status Active

MLS # 6744603

Property Type Single Family Residence

Price Type --

Get ready to fall in love with this spacious 4-bedroom home boasting 3 full baths, a versatile loft (easily convertible to a 5th bedroom), and a 3-car garage. Nestled in the beautiful Rio Paseo Community in Goodyear. This gem is right in the heart of an entertainment district, surrounded by fantastic restaurants, a theatre, shopping hotspots, walk/bike paths, waterfall pond, parks, and top-notch schools. Step inside to discover a formal living and dining area, a large open kitchen featuring a breakfast bar, granite countertops, and stainless steel appliances (including a refrigerator). Downstairs you'll find a convenient bedroom with a full bath. Home is complemented by stylish touches such as stone decor on the kitchen island, a single bowl kitchen sink, new blinds and laundry room with built-in cabinets. Upstairs, you'll be greeted by 3 generously sized bedrooms, including an expansive retreat with double doors, a remodeled ensuite with a separate soaker tub and a spacious walk-in shower, double sinks, and a large walk-in closet. The backyard offers a full-length covered patio, providing ample space for your creative vision. Not to mention, several upgrades have been made between 2022 and 2023, including partial roof replacement, new flooring, water heater, water softener, AC units, upgraded kitchen, and remodeled bathrooms. Conveniently located near the I-10 and Loop 303 Freeways. This home is move-in ready and waiting for you to make it your own!

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19314 S 208th Place Queen Creek, AZ 85142

$550,000

3 Beds

2.5 Baths

2,185 SqFt

Status Active

MLS # 6751638

Property Type Single Family Residence

Price Type --

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501 W Jasper Drive Chandler, AZ 85225

$550,000

4 Beds

2 Baths

1,961 SqFt

Status Active

MLS # 6745933

Property Type Single Family Residence

Price Type --

***PRICED BELOW COMPS!*** Walk into instant equity in this unassuming gem in Chandler! Motivated Seller. NO HOA!! A great property with HUGE potential! This 4bdrm/2bth home on a large corner lot insulated in highly sought-after neighborhood of Thunderbird Estates in Northern Chandler. Down the street from Knox Gifted Academy (Ranked #1 AZ Public School) and Apache Park (Basketball, Tennis, Racquetball and playground). Home was remodeled in 2019 and included new roof and a/c. There is room for an addition or guest house in the backyard! The interior has all modern finishes. This home's exterior and landscaping is essentially a blank slate, just waiting for a new owner to make it their own! *Perfect for a light-flip or DIY homeowner! PROPERTY FEATURES: a LARGE, gated, pull-through RV pad.

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4565 S Merriman Way Gilbert, AZ 85297

$550,000

4 Beds

2 Baths

1,793 SqFt

Status Active

MLS # 6747135

Property Type Single Family Residence

Price Type --

Welcome to 4565 S Merriman Way, a beautifully maintained 4-bedroom, 2-bathroom home offering an inviting living space. The open-concept kitchen features modern appliances, a spacious island, and ample cabinetry. Relax in the elegant master suite with a walk-in closet and an en-suite bathroom. The highlight of this home is the entertainer's dream backyard, complete with an outdoor BBQ kitchen, gazebo, fridge, and sink. Enjoy community amenities such as playgrounds, walking paths and tennis courts. Conveniently located near shopping, schools and major highways.

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30061 N 70th Drive Peoria, AZ 85383

$550,000

4 Beds

3 Baths

1,818 SqFt

Status Active

MLS # 6748482

Property Type Single Family Residence

Price Type --

Your DREAM home is here in Sonoran Mountain Ranch! Backing the mountain preserve, this beauty offers privacy & serene views. Providing 4 beds, 3 baths, 2-car garage, & a low-care landscape. Home exudes refined style, showcasing an open layout paired with a fireplace, designer paint, archways, & wood-look tile flooring in all the right places. The impressive kitchen boasts SS appliances, granite counters, a double-door pantry, two-tone cabinetry, tile backsplash, & a 2-tier island. The den can be an office or play area! Main bedroom has a double-door entry, outdoor access, and an ensuite w/dual sinks & a walk-in closet. If entertaining is on your mind, the backyard awaits you! With a covered patio, artificial turf, & refreshing pool, this space promises year-round enjoyment. Move-in ready!

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