The first step in buying a home is to submit an offer to the seller. Typically, the offer has an expiration date and may include contingencies and other conditions that may exist until the deal officially closes. To increase the odds of an offer being accepted, it should be reasonable given the current market conditions. What constitutes a reasonable offer? Drennen Home Loans breaks it down:


What Is the Deal Contingent On?

In most cases, a purchase offer will be contingent on your ability to get a mortgage in a timely manner. Furthermore, it is also common for a buyer to ask for a home inspection prior to closing the deal. While there are no set criteria as to whether a home passes or fails an inspection, a buyer may ask a seller to take care of any major issues found during the process. Otherwise, the buyer may back out the deal without losing any money.


What Are the Terms of the Deal?

It is critical that you are as specific as possible when submitting an offer. It should include the proposed purchase price as well as how property taxes and other fees will be split. If you are asking for seller concessions, be sure to state that in the offer. Finally, you can ask that the seller include appliances or other items within the home as part of the transaction.


Your Advisory Team Can Help Create a Proper Offer

Your real estate agent or attorney can help you make an offer that adheres to local laws and provides the best chance of buying the property. If an offer is accepted, you can work with mortgage brokers in Las Vegas to obtain a loan and complete the sale.