3. Negotiate the Offer “Oftentimes, the seller will counter the offer, typically asking for a higher purchase price or to adjust the closing date. In these cases, the seller’s agent will submit a counteroffer to your agent, detailing their desired changes, at this time, you can either accept the offer or decide if you want to counter. Each time changes are made through a counteroffer, you or the seller have the option to accept, reject or counter it again. The contract is considered final when both parties sign the written offer.” 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 inspector uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller. 4. Act Fast The inventory of homes listed for sale today remains well below the 6-month supply that constitutes a ‘normal’ market, especially at the entry level. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete for their dream homes. Make sure as soon as you decide you want to make an offer that you work with your agent to present it as quickly as possible. Bottom Line Whether buying your first home or your fifth, let’s talk about your needs and what you’re looking for to make sure the process goes smoothly.
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