Tips on Making an Offer When Buying a House

One of the most important steps when buying a home is making an offer. That’s why Patriot Title Agency in Columbus, Canton, and Medina, OH, put together these tips for you to have a smoother offer process. 

Get Pre-Approved for Your Mortgage

Getting pre-approved for a mortgage should usually be your first step before looking at potential homes, but it becomes essential when you’ve landed on the house you’d like to purchase. First, the pre-approval process takes around a week, which might not sound like a lot, but timing is essential when placing an offer, and having to wait a week could mean someone making an offer before you get the chance to put yours in. Next, already having a pre-approved mortgage is an excellent way to tell a seller that you’re ready to purchase as soon as they make their mind about you. This can also make you come off as a much more serious buyer, giving you a leg up from other potential buyers. Lastly, having a pre-approved mortgage can be an incentive for the seller of the house you’re interested in, as it can expedite the closing process.

Closing the deal on your dream home a lot of times comes down to making an offer the right way. If you have any questions about the home buying process and title services, call Patriot Title Agency, Inc. in Columbus, Canton, and Medina, OH at 330-479-3000, and one of their expert agents will help you out.

Have a Pro Home Buying Team

Buying a home is one of the most significant investments people make throughout their lives. That’s why having a professional home buying team by your side is so important. Before you make an offer on a property, make sure to get information from pros in the area:

• A real estate agent can help guide you through the market and help you gauge how much you should offer for the property.
• An experienced title agent can guide you through the title process.
• A mortgage specialist can help you choose the right mortgage for you.

Get to Know the Market

Another essential part of putting in an offer for a property you like is to get to know the market. As mentioned before, a real estate agent can be vastly helpful not only in gauging the market value of the property you’re interested in but also can help you understand the market overall. Housing markets can differ from area to area and city to city, so understanding the ins and outs can help you decide how much to offer and how quickly you should move on a property depending on the market cycles in the area.

Your best bet in having a successful offer is to have a team of pros by your side. If you don’t have a title agency yet, call Patriot Title Agency, Inc. in Columbus, Canton, and Medina, OH at 330-479-3000, and one of your agents will walk you through how they can assist you in the home buying process.

Offering the Right Amount

Offering the right amount for the property you’re seeking out is also essential. When thinking about how much to offer, you’ll need to factor in the market value of the house, the asking price, and your home buying budget. It’s also essential to protect your finances when making an offer and avoid over-extending yourself. That being said, you should leave a little wiggle room in your offer in case you need to offer a bit more, so the seller chooses you.

Don’t Let Emotions Get In the Way

It’s normal to be excited or nervous when making a purchase as big as a house. Still, it’s important to remember that staying calm and collected can help you make better decisions and negotiate better.

Write a Compelling Offer Letter

As the last step, once you’ve gone through the steps outlined above, it’s time to write your offer letter. The objective of an offer letter is to help you connect with the seller and allow them to get to know you better. For many homeowners, selling their homes is not only a financial decision but also an emotional one. That’s why getting to know a potential buyer is so important. Writing a compelling offer letter can be the deciding factor in getting your dream home.

In the process of buying a house, having a professional and knowledgeable title agency by your side can be wildly beneficial. Contact Patriot Title Agency, Inc. in Columbus, Canton, and Medina, OH at 330-479-3000 for more information on title services today!