Should You Submit an Offer to Purchase a Home?

by Rebecca Hite 11/05/2019

Deciding whether to submit an offer to purchase a house may prove to be difficult. Fortunately, we're here to help you weigh the pros and cons of submitting a homebuying proposal so you can make the best-possible decision.

Now, let's take a look at three tips to help you determine whether now is the right time to submit an offer to purchase a residence.

1. Evaluate Your Budget

If you believe you've found your dream home, you should take a look at your budget. That way, you can verify whether you'll be able to afford this residence both now and in the future.

Oftentimes, it helps to get pre-approved for a mortgage before you start a house search. If you meet with banks and credit unions, you can learn about all of the mortgage options at your disposal. Then, you can select a mortgage that allows you to pursue a house with a budget in hand.

2. Consider Your Homebuying Criteria

You want to discover your dream residence as quickly as possible, but it is paramount to find a house that you can enjoy for years to come. If you have a list of homebuying criteria, you may be able to quickly determine whether a residence is right for you.

As you craft homebuying criteria, think about what you want to find in your dream residence. For instance, if you've always wanted to own a house on a beach, you can narrow your home search accordingly. On the other hand, if you would like to own a home that has an above-ground swimming pool but can live without this feature if necessary, you should include an above-ground swimming pool as a low-priority item on your homebuying checklist.

3. Assess the Housing Market

The housing market often fluctuates, and a buyer's market today may shift into seller's favor tomorrow. If you analyze the housing market closely, you can differentiate a buyer's market from a seller's one. You then can decide whether to submit an offer to purchase or hold off on providing a homebuying proposal until housing market conditions improve.

To distinguish a buyer's market from a seller's market, it generally is a good idea to look at the prices of recently sold houses in your city or town. You also should find out how long these residences were available before they sold. By reviewing this housing market data, you can assess the demand for houses in your city or town.

Lastly, as you debate whether to submit an offer to purchase a residence, you may want to consult with a real estate agent. This housing market professional is happy to provide honest, unbiased homebuying recommendations. As a result, a real estate agent can help you perform an in-depth evaluation of a home and determine whether to offer to buy this house.

Make an informed decision about whether to submit an offer to purchase a residence – use the aforementioned tips, and you'll be better equipped than ever before to decide how to proceed with any house, at any time.

About the Author
Author

Rebecca Hite

Hi. I’m Rebecca. Check Out My Newest Listing!

Thanks for stopping by! Since you’re here, I’m assuming you’re in the market to buy or sell a home and not just whittling away your free time perusing Realtor websites. And, since there are about a gazillion Realtors out there, I’m just going to cut to the chase and tell you the most important thing you should know about working with me: When clients choose me, they are choosing a relationship, not just an agent.

I know, I know… it sounds trite. (I promise I’m not moonlighting as a Hallmark greeting card writer.) Stay with me for a moment and let me try and explain how serious I am about that statement…

There are 25,000 realtors in the marketplace.

It’s a really easy business to get into, yet realtors are dealing with people’s biggest investments. There are a lot of Real Estate Agents out there who are not good at taking that investment seriously. Some got into this business simply because they like to show homes. Others are focused more on the number of transactions they can close each month than on whether their clients are getting into the home that’s truly right for them. It’s unfortunate.

I don’t treat people like that. Since 2001, when I began building my business, I did it by building relationships. Rest assured that even when things get a bit chaotic (and they will!), nothing is going to slip through the cracks. I’m not looking to maximize my number of transactions per year – I am looking to a build long-term relationship with you. I want my clients to work with me every time they decide to sell or purchase a new home, and refer me with confidence to their friends and family.

Other things I think you should know about me:

  • My tagline says that integrity means everything, because to me it does.
  • I’ll never stop learning or assume I know it all. I take a lot of continuing education courses and if I don’t have an answer, I’ll be honest and then go find out!
  • I’m a Member of the 2016 and 2017 SMDRA Diamond Circle Club!
  • I value customer service. I know, I know… everyone says that. When you work with me, you’ll find out that it’s actually true.
  • I am honored to have won the 5280 Five Star Professional Real Estate Agent Award 7 years running. This recognition is based solely upon customer satisfaction ratings for exceptional service and overall satisfaction.
  • Entex Information Service –  1981-2001 – 20 years! – Vice President of Sales
  • Information Technology Services for Fortune 500 Companies, including hardware, software sales, help desk implementation, infrastructure redesign and computer services. Procurement Optimization, Help Desk Installation, Process Management, Deployment Implementation, Sales, Marketing, Management, Mergers and Acquisition, Human Resource Planning, Contract Negotiation.
  • Specialties: Sales and Marketing, Process Management
  • Started at Business Land as a corporate account manager on-site at Bain Consulting Services. Trained with the Fortune 50 accounts for business development, process design, management, marketing and customer service.  Top Apple sales representative in the country for the Insurance Industry.  Promoted to Sales Manager, Director of Corporate Accounts, General Manager and ultimately Vice President of Sales.  Directly responsible for the P&L of $100,000 in gross revenue and 5% EBITDA with 350 employees in 8 states.
  • Historic Denver Certification – Understanding & Selling Denver’s Historic Homes & Neighborhoods. Historic Denver, Inc. protects the historic neighborhoods that make Denver unique. In the 1970s Denver’s historic structures faced demolition in epic numbers. Historic Denver, Inc. helped save one of our city’s most celebrated historic homes – that of “unsinkable” Molly Brown. Since then Historic Denver has been the leading voice for preservation through Advocacy, Education, and Technical Assistance. Historic Denver, Inc….
  • When clients choose me, they are choosing a relationship, not just an agent. If that sounds like the kind of Realtor you want to work with, we should talk. Pick up the phone, and tell me what I can do for you.

~Rebecca
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