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5 Tips for Making Your Best Offer

09/15/21  |  Stephanie Nash

Things to keep in mind when it’s time to make an offer.



In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams.

Below are five things to keep in mind when it’s time to make an offer.

1. Know Your Budget


Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.

Showing sellers, you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect home.

2. Be Prepared To Move Fast


Speed and the pace of sales are contributing factors to today’s competitive housing market. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the average home is on the market for just 17 days. As the report notes:

“Eighty-nine percent of homes sold in July 2021 were on the market for less than a month.”

When homes are selling fast, staying on top of the market and moving quickly is key. After you’ve worked with your agent to find the home that suits your needs, they’ll help you put together and submit your best offer as soon as possible.

3. A Real Estate Professional Can Lead You to Victory


No matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac says:

“The success of your homebuying journey largely depends on the company you keep. . . . be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.

Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller may need can help your offer stand out.

4. Craft a Strong, Fair Offer


In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the case. According to the latest Realtors Confidence Index from NAR, 50% of offers are above the list price.

In such a competitive market, emotions and prices can run high. Having an agent to help craft a strong, fair offer is critical in these situations. Your agent can help you understand:
  • The market value of the home
  • Recent sales trends in the area
  • Current buyer demand

5. Understand the Seller’s Needs, but Resist Waiving Certain Contingencies


When crafting an offer, you’ll want to keep both your best interest and the interest of the seller in mind. Your trusted real estate advisor will help you consider which levers you could pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up, like the home inspection.
Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line


Today’s competitive housing market makes it more important than ever to make a strong offer on a home. Let’s connect to make sure your offer rises to the top.
Stephanie Nash

Stephanie Nash

Realtor®

About The Author

Luxury real estate agent Stephanie Nash was born and raised on the Peninsula. She currently serves the communities of Woodside, Portola Valley, Atherton, Half Moon Bay, San Carlos, Redwood City, Emerald Hills, and the surrounding areas, from Burlingame to Los Gatos. According to Stephanie, there is so much to love about this area, including the sunny weather, easygoing lifestyle, and the abundance of country property with large parcels, hiking trails, ocean views, and great food.
 
In 1987, Stephanie began her illustrious career in real estate by working in title companies, eventually moving into an assistant role for a top-producing agent. She became a licensed real estate agent herself in 1991. Since then, she has forged a stellar reputation as a trusted advisor for her clients; a compassionate and solutions-driven professional, Stephanie’s clients know that when they work together, they are on track to achieve their real estate goals.
 
With over 30 years of experience in real estate, clients can count on Stephanie to help them find the perfect home. Whether they’re moving to a larger house for their growing family, downsizing to a cozy home, or finding the perfect property with sprawling acres of land, Stephanie knows how to handle each and every situation. She is a great listener, honest navigator, and hardworking agent with a positive attitude and strong ethics. Stephanie's availability and good communication skills set her apart from the competition, and she is proud to have helped many clients achieve their dream of homeownership – including a tremendous sale of a 500-acre property. 
 
Stephanie is grateful for her life, her beloved children, and the wonderful people she meets through her work. In her free time, Stephanie enjoys swimming, spending time with her dog at the beach, cooking for friends and family, and starting a new hobby as a gardener and caretaker for her plants and 13 chickens. 
 

Work With Stephanie

Stephanie respects residential real estate’s dual role as a personal investment and chief financial one. Whether you are buying or selling a home, it will likely be one of the largest financial decisions you make. Stephanie will be with you every step of the way to expertly guide you.

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