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What Happens When I Make An Offer On a House?

how to make an offer on a house

You have found the realtor you want to work with, you have toured homes, you even got pre-approved for a home loan, and now you are ready to make an offer on the house of your dreams. One of the most stressful parts of buying a new house is the time right after you you make an offer on the house you really want.

So, you’ve made the offer and signed the offer documents … now you wait.

What is the buyer doing?

Typically when you make an offer on a house, you will put a time limit on the offer. That allows you to put a little pressure on the seller and provide you with some certainty in your housing search. (You're not going to sit around for weeks in limbo.)

As you wait, one of three things will happen:

  1. The seller may accept your offer as is. If that happens, it is time to celebrate; you found the house of your dreams!
  2. The second option is the seller will counter your offer with an offer of their own. This is where your realtor will come in handy. Because they know the market and understand the local neighborhood, they will know if the new offer is fair. All you have to decide is if the new offer fits in with your original plan and budget. At this moment, it is important to not become emotional. Buying a home, while a very personal purchase, it is just a business transaction. Hopefully, before you made the offer, you had a plan of how much you wanted to spend and how much you could spend.
  3. The third and final option is that the seller may simply reject your offer without a counter. If that happens, just move on and find a house that is more perfect than that one.

As you wait for word on your offer, don’t stop looking. The game isn’t quite over and you want to be ready to move on to another house if your offer isn’t accepted. But, if your realtor has done their homework and prepared a competitive offer, odds are, you’ll find the perfect house for you.

Ready to Look for a House?

Let Space Simply’s team of agents help you! We have agents in Des Moines who are experts in every suburb and are ready to help you through the entire home buying process. Just contact us today and let us be your local real estate expert.