How To Write An Offer To Purchase A Home

Learn how to write an offer that helps you win the house you love! Writing an offer to purchase a house isn't complicated, but there are a lot of moving parts you need to watch for!
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So how do you structure your offer to make sure that the seller accepts it?
So number one, you need to know your loan numbers. And what I mean by that is you need a prequalification from a lender and you need quotes. There is no point in writing an offer on a home if you have no idea what those numbers look like, right? If you have no idea what you can get approved for, how much your monthly payment is going to be, what kind of costs are associated and what your down payment needs to be, you have to know those numbers upfront. That way you know what you can negotiate with because you can come into a contract and put any numbers you want down, but unless you know exactly what's going to work for you in your family, there's no point in writing that offer yet because you don't know how those numbers are going to impact you. This whole contract is going to be based on numbers of the impact you and your family and what you're going to have to bring to the closing table, what your monthly payment is and your total cost over a period of time.
So make sure you get pre-qualified with a lender and you have quotes so you know what your numbers look like. So you can negotiate well. Also you want to get advice from your realtor. Don't just feel like you have to go at this alone. Get their advice on what does the market look like, what kind of offer in terms is going to work well for you moving forward to actually win this house. Also you want to consider price and the tradeoffs. So one of the biggest things that people focus on in a contract is obviously the purchase price. How much are you purchasing the home for? And often what happens is you see a home for $200,000 and you want to go write an offer for one 95 or one 90 you want to try and get the best price. But a lot of people don't consider that price also has tradeoffs with with it.
Hey, my name is Kyle and I'm a Loan Advisor serving Tennessee, Florida, and Ohio. I help you get a crystal-clear home loan so you can win the house you love.
www.winthehouseyoulove.com/
0:00 How To Write An Offer To Purchase A Home
0:38 How to Write an Offer to Purchase a Home
8:21 Psychology of how we are setting up the offer
9:07 Want between you and the seller
11:35 Two Main Points
12:26 Include to help push a contract
--- Legal ---
NMLS# 1701021
Motto Mortgage Alliance
www.winthehouseyoulove.com/
8900 N. Dixie Dr.
Dayton, OH 45414
Equal Housing Opportunity

[@fmrmnquin]

wow! You have an amazing voice! Good info, too.

[@WinTheHouseYouLove]

Wow, thank you!

[@rodricutz737]

I appreciate your knowledge!

[@WinTheHouseYouLove]

So nice of you. Thanks!

[@FeralSpirit]

Thank You for the video. Can you tell me why a portfolio loan is less attractive to a seller?

[@Funkafella01]

How would you approach this in todays market? How important is the down payment to a seller?

[@cindymarcelacolucci7100]

Great Vid..always mention HOA fees

[@WinTheHouseYouLove]

Thanks!

[@chriscolter1935]

We are making offers in Toledo OH, we are running into agents who are refusing to send an all cash offer for asking price. There seems to be a lot of game playing with agents

[@WinTheHouseYouLove]

What??? I would switch your agent immediately

[@rorexc]

Some houses in my area were $55,000 a few years ago, now they're listed for 30-50k higher. Are these the kind of houses I could make a 10-15k lower offer on? I know it partially matters how long it's been listed but I'm just curious. I plan on doing a conventional with 20% down and 15 year mortgage as well as all of closing costs. Is that attractive to sellers?

[@mplscarsales6652]

Doing the same yes it’s attractive not many can come up with 20% and closing/prepaids

[@zmack1830]

Good Stuff _ about the credit score__why does it matter to the seller? My understanding is that it credit score matters to the lender! Thanks for your help in advance!

[@WinTheHouseYouLove]

Credit score doesn't, but when I mention "credit" in this video, I'm referring to seller credits i.e. the money the seller is giving to the buyer towards their closing costs.

[@beardlesspenny806]

A bit confusing at the items part. The course I took specified multiple times that things like a refrigerator/microwave/oven are considered fixtures of the house & assumed to be part of the sale

[@WinTheHouseYouLove]

If they are built-in (permanently and securely attached) they can be considered fixtures. When it comes to appliances, it's remarkably easier to include them in the contract than the potential of a misunderstanding between parties that leads to a court having to decide what a fixture means for that property. Contracts should never contain assumptions, that would be a poorly written contract. Many contracts have pre-written language about common kitchen appliances and them staying with the property.

[@jmm1817]

Great taking real estate advice from a music Major

[@WinTheHouseYouLove]

I have a bachelors in finance

[@MzOnosai]

Thanks for the breakdown. We're purchasing a home in a newly developed area and are dealing directly with the builder sales rep & their preferred lender. We've completed the pre-qual process and have recently been approved. Would you advise that we seek out for a realtor, or not even deal with the middle man at all?

[@WinTheHouseYouLove]

There are a lot of opinions on both sides! If you're comfortable with real estate contacts, you'll be ok. It might be worth trying to contact a realtor and seeing if they would be comfortable with a flat fee to help you set up and negotiate a contract though.

[@kenyonbissett3512]

I would suggest you find a realtor for the contract and familiar with financing, also. I’ve heard horror stories of “preferred lenders.” This could all be fine and above board but better safe then sorry.

[@olympialopatin1115]

I’m confused. You say offer then contract. Do you mean after lawyers are involved? I placed offer verbally thru realitor it was accepted and that’s it. Now the lawyers are getting the contract.

[@WinTheHouseYouLove]

A verbal agreement is not a fully accepted offer. You have nothing in writing. You and the seller have to sign the contract.

[@victorcordero1458]

What if a house is 400k and i offer 420k and the house appraises for 390k ???

[@chaoher6478]

So sorry for you, I hope you have that money on the side.

[@gladisfuentes6001]

We’ve had 3 offers rejected. We have gone over asking price but I think our problem is the closing costs. We are asking at least 4000 in closing costs. It’s so stressful.

[@WinTheHouseYouLove]

Ugh, it's so tough out there!

[@mplscarsales6652]

Earnest money ties up your Downpayment and is not required if my 20% down doesn’t show I’m serious I’m not interested

[@drewcoleman738]

Earnest money is part of the down payment. It means you are serious about wanting the house and won’t just back out for no reason at all. 20% down doesn’t show that a buyer is serious, it just tells the seller that you have some liquidity. The seller wants to feel secure that they are taking their home off the market for someone that is serious about buying it, not just getting into the process but might find something they want better during the process. It is a very standard procedure in real estate transactions.