How to Make an Offer on a House! (AND Get YOUR Offer ACCEPTED!)

In today's home buying tips episode you'll learn about making an offer on a house!
#HowToMakeAnOfferOnAHouse
🎬 About:
In this video you'll learn the best practices of how to make an offer on a house, and... how to get your accepted!
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❓ QUESTION - What would you like to watch next?
📒 Show Notes 📒
Main Topic #1
1:23 - Forget the List the Price! What's the house REALLY Worth!?
Main Topic #2- Offer Analysis & Factors
2:40 - Comparative Market Analysis for Buyers & Considerations
3:13- What's Comparative Market Analysis (CMA)
4:47 - Buyer Motivations
5:44 - Understanding Market Conditions... Seller's Market vs Buyer's Market
6:53 - Days On Market (DOM) = Better Negotiations!
9:23 - Impact of Competing Homes & New Homes
11:04 - Seller's Motivations Influence Pricing!
Main Topic #3 - How to Make an Offer the Right Way
12:45 - Writing the Your Offer!
13:34 - Financing Considerations
14:26 - Earnest Money Deposit aka Good Faith Deposit
15:32 - Inspection Periods aka Buyer Due Diligence
16:35 - Negotiating Home Repairs
18:03 - Your Down Payment
18:38 - Buyer Closing Costs
20:47 - Title & Lender Policies
21:05 - Closing Time frame and date of Possession
22:20 - Real Estate Contingencies
➜➜➜ Get in Touch with Me Here ➜➜➜
Andrew Finney Trusted Real Estate Advisor/ USMC Veteran S.0173260
www.andrewfinneyteam.com
King Realty Group 6955 N. Durango Drive
Suite 1004
Las Vegas, NV 89149
Disclaimers/ Credits:
At the time of production, Andrew Finney, S.0173260, is a real estate salesperson with BHHS, NV Properties in Las Vegas, NV. Andrew's videos are his own and do not necessarily represent the views and/ or opinions of BHHS, NV Properties. The purpose of Andrew's videos is to educate you and help you make sense of the real estate process. I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. If you have questions about home loans, real estate, taxes, financial advice, real estate law, insurance, professional trades, or any other services, you are advised to reach out to the appropriate professional for further counsel about your own unique situation. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or any other and may be outdated or inaccurate; it is your responsibility to verify all information for yourself. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that is free from error. Linked items may create a financial benefit for Andrew Finney Team. Any use of other media is by fair-use or license only.
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[@norbertomartinez5906]

Wow this video blew my mind but you make many valid points i just never thought you had all this to do when buying a home; I'm learning a lot from these videos.

[@warweasel77]

Thanks for the great information. I’ve watched your videos to help with my three investment properties, but now I’m rewatching before I purchase my Forever Home. It is different when home buying for yourself instead of making a profit. Andrew, you are the best.

[@Rubberglass]

About to make my first offer. Thank you!

[@judithschenk5148]

You know a lot and you you speak so well. I sure could use your help. I am only been an real estate agent for four months and there is just so much to learn and remember in my agent launch classes that I completed at the end of February 2019. The information received is more fragmented in my head than being in a systematic process and flow. I will continue to follow you because you helped me understand how to better assist the buyer in the offer, price, negotiation, and so much more.

[@marywilliams6976]

Thank you, Andrew very informative.

[@AndrewFinney]

Thank you Mary! I'm glad this video nailed it for you! What would you like to watch next?

[@veersingh5015]

This is an amazing post. Very informative and overly helpful. I listened to it 3 times and I will listen to it over and over again to absorb it in. Thank you sir. Do you have a video on how to write contract, step by step sir? I would love to view that as well.

[@AndrewFinney]

Glad you enjoyed it Veer! This video is the most in depth I've created thus far about how to write a contract thus far. The next video coming out where I display this in process is episode 4 of the home buyer reality show premiering at 5:30pm Wednesday, 15 Apr 2020. I'll take a closer look at creating a more in depth video about writing contracts. Wishing you a fantastic day full of perfect health and safety always! =)

[@jerryenoch878]

Very good video. Andrew covers a lot of material in a very clear, organized manner. If you're looking to buy a house, this video can help put you at ease and perhaps prevent mistakes.

[@afrahmanderson496]

The graphics and the details that you give are very helpful.

[@Loantt83]

Very helpful...thanks;) I liked the general costs of various expenses ;)

[@talhasiddiqi5993]

Good one. Thanks for your insights.

[@AndrewFinney]

Glad it was helpful Talha! My pleasure to help.

[@johnm396]

Thank you Andrew - a wealth of information. I like the strategy to try and gleen what the seller would like to see in the contract. As a buyer I am completely disgusted and frustrated and at my age I am well aware I must be patient. In the last 5 months I must have looked at 200 homes and of those there have been only 2 that met my criteria or wish list I should say. The first one was already on deposit when I learned of it which happened < 24 hours of the listing coming out. The second one I am on right now but the scenario is different in that it is bank owned. The listing agent is unresponsive but this whole thing is less than 24 hours old. Also, I am VA! Undesirable in this market I am well aware. About two months ago I made a full price offer on a house that more than met my needs but was stretching my budget to the max. My full price offer had an additional $7,700 above the asking price that I needed back for closing. Oddly, the offer that was accepted was full asking price plus $7,000! Those numbers are too close to be coincidence but there is really nothing you can do accept move on. I am currently living in a mobile home that I rebuilt from the ground up and it is really nice but not owning the land and being in a park with rules is not the way I want to live out my years. I am a disabled vet and will be 60 on my next birthday. I have good days and not so good days which prevent me from pressing ahead sometimes with any given task so I find myself being charged with rule violations that are punishable with up to eviction! Enough about that. My realtor is wonderful but stretched to thin and maybe somewhat green about what we can do for me to get this house. I really want it but refuse to get too excited as the houses aren't lasting a day here with full and often higher than asking offers. I understand it isn't over until it's over and just because someone else beat you with submitting an offer anything can go wrong and that buyer is out, next in line right? One thing that occurred to me is that maybe applying for a mortgage with the bank who is holding the property??? Selling their property and coming out of it with another customer/loan seems to me might help me. But they would have to recognize VA loans. I have a buyer for my mobile home but he has to sell before he can buy. I didn't want this process to shave years off my life and figured if I can buy without having to sell and then sell later that would be so much easier. Now that I've watched your video and others like it I am starting to see the power of substantial earnest money and being able to pay my own closing costs and not muddy the water by asking for money back even though the seller is getting his price. Thank you for sharing this valuable information of your knowledge, experience and wisdom on this dynamic process with seemingly infinite variables. In divorce court we had an incredibly fair judge who split all marital assets 50/50 down the middle; when it came to the house she got the inside, I got the outside!!! But seriously I am in this position for a number of reasons but most importantly when I divorced I did not press to sell the family home for the sake of our two beautiful children. Now college grads and seemingly well rounded young adults (thanks Mom!!!) I do not regret my decision of the sacrifice I made. Throw one up there for me! ~John

[@iamchangingtoo]

New subscriber, you have a wealth of information.

[@AndrewFinney]

Thank you Arodys! I'm super happy you joined our community and that you enjoy my videos. Thank you! 😀 What would you like to see next? 🤔

[@sarahblackmon2196]

Thanks.

[@DeadlyDan]

I'm not from the US so the particular nuances of the American housing market do not really apply but the principle of the advice has helped me a lot, thanks :)

[@jackievickrey1378]

Most important to me was recognizing the large number of factors that go into making an offer to the seller. Thank you for another great video

[@AndrewFinney]

Hi Jackie Vickrey, Thank you for watching and for your kind words! You rock! Check the show more description of this week's live stream timeline for the minute marker giving you a shout out: kzbin.info/www/bejne/hIjTk5KGbsypiZI What would you like to see next? Enjoy an amazing day! Thanks again for watching and commenting! =) Chat soon, Andrew Finney www.andrewfinneyteam.com/

[@hocstix]

Please note: Appraisals did not mean much in house sales over last two years. With buyers bidding each other out, most if not all sellers realtors wanted a “no appraisal clause” in the contract. Moreover I did not see one home contract fail due to non-appraisal. Prices increased by 50% whereI live. True for most areas. Different scenario if it is a buyers market - which it still is not.

[@AndrewFinney]

Good points Jaswinder. 2021 was an insane real estate market. I created this video in May 2018. Appraisal value will likely become more of a factor again by the 4th quarter of 2022 and into 2023. That said, buyers will usually overbid on homes that are the most desirable despite any market condition if competition is present. It's up to a buyer's comfort level and financial capabilities if they opt for that path. Sending you positive vibes everything is going your way!

[@amanacatandhisdog8836]

It was on what happened to your earnest money at close. Thanks for your vids.

[@matthewmiwanda216]

Are there any site that I can uses for comparative analysis on a property?

[@user-gh8sl7iu3y]

Might you do a video on cash deals? Wish I’d known about your advice before I lost $500 on a home inspection that turned up a laundry list of expensive unforeseen (underground) issues that seller wouldn’t consider negotiating. This seller inherited the property so claims no knowledge of any issues. Shouldn’t the listing agent have asked for both an inspection and appraisal under those circumstances?

[@Bahamut_Mega]

So do you bring "cash" when you close?

[@sogosmile4624]

Every home I am interested in goes into contract with 24 hours, how do you get an offer in if the homes are going so quickly ?

[@TexasEmperor]

Try now...

[@omarmendez1468]

thanks bro. wondering where you are at now andrew

[@AndrewFinney]

Thanks Omar! I’m still a full time Realtor in Las Vegas, NV. I took a step back from creating real estate videos a couple of years ago to focus on active clients on a chaotic market. Then hit it hard the latter half of last year with a a flurry of videos and massive shorts and now regrouping. I also am exploring other creative passions when I’m not with clients. Here’s a link if you’d like to check it out, just started this one this past Monday on a 3 video a week schedule. Attract the Abundance, Success, & Prosperity You Want! // Affirming Meditations #2 // kzbin.info/www/bejne/kIHLnX18nK2teLc

[@busymom9937]

Can you recommend a good agent in Minneapolis/ western suburbs?

[@jeanmcphee2038]

Not many examples to make points, so may have been too abstract

[@chrissummers4654]

Great info. Talk a little slower, haha!

[@topsecretbear9918]

Exhausting.

[@lisa-fg8zh]

Good, but could u talk slower...

[@silasoliveto]

lisa braden There is a speed function in KZbin. It is awesome. You can speed up or slow down the video/audio to match your desires. Pretty simple to do while watching the video. 😁 1-Tap Video 2-Tap the three periods stacked on upper right of video 3-Tap Playback Speed 4-Choose and adjust speed as desired Enjoy KZbin even more now. Some people talk too fast and others too slow. You can make it just right for you!