What to Know Before Making an Offer on a Home – Faithe Real Estate

What to Know Before Making an Offer on a Home

A smart course of action before making an initial offer is to get to know the home of interest intimately. After all, you will be making one of your biggest commitments in your lifetime with the purchase of your new home. Remember, an offer is a starting point that, ideally will lead to a binding purchase contract. But, until both buyer and seller have agreed to all the terms, including a final price, each party has an opportunity to abandon of the deal.

It is best to learn as much as you possibly can about a property before you submit a written offer. It is in your best interest to ask numerous questions, starting with your realtor. Other questions you will need to scope out on your own through your due diligence. Home inspections can provide information about inquiries you may have about the structure of a home. Most answers will be straight forward while others will be based on your personal perceptions. The answers you receive will help determine whether you are ready to make that next step of signing an offer.

Forming an Opinion:

The process of choosing your perfect home starts with knowing your financial limitations and seeking out properties within your budget range. It is also important to have a well-defined list of “must haves” and “unacceptable” criteria that will impact your enthusiasm towards a property.

As you classify the various homes you view, consider the following:

Price: Depending on market conditions, the length of time a house is on the market might indicate a problem or a sign that the seller is ready to make a deal.

  • Is the asking price reasonable?
    • What are the prices of comparable properties?
    • How long has the property been on the market?
  • How many days has it been on the market?

Condition of the Property:

  • Does the price reflect the property’s condition?
  • Are you willing to make needed repairs?
  • If the property has been updated, are the changes and the quality acceptable?
  • Does the property appear clean, neat and well-kept?
  • Are the floor plan, size and features appropriate for your needs?
  • Revisit the home at different times of day if possible.

Assess the Value: When you drive around do you get a positive feeling about the quality of life in the area?

  • Are there parks and recreational areas?
  • Is the age of the area apparent?
  • What are your neighborhood 1st impressions?

Location, Amenities, Infrastructure: Visiting City Hall, County Offices or the Chamber of Commerce provides valuable insight about your potential neighborhood

  • Is there public transportation?
  • How is local traffic? How close are you to major freeways?
  • Are there convenient stores? Additional shopping?
  • Are medical facilities accessible?
  • Planned Developments or Zoning Changes expected?
  • Are taxes reasonable?

Know the Details: Learn important details about the home and its condition.

  • Know about the heating, cooling, plumbing and electrical systems.
  • Has the roof been repaired or the appliances replaced, and if so, when?
  • Will any warranties transfer to new owners?
  • Has a home inspection been completed and can you gain access to it?

The written offer is an exciting “next step” in the process of buying a home. But, it is the information you gained during the “getting to know you” phase that will remain with you long after you become an owner.

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May 1, 2021.
Robbie was amazing. He was able to get us the best sale price possible, and he was very responsive whenever we had questions or concerns during the process. I was also worried that selling would be a big headache, but Robbie and his crew made it super easy for us. We couldn’t be happier!
April 28, 2021.
Robbie and his team were efficient, easy to work with, and responsive to our needs. They presented options and guided us through the process with good advice and insights. Jamie followed up on all the details and made sure everything was on track. Very professional and enjoyable.
Sarah Putnam
April 28, 2021.
Robbie and his team are incredibly knowledgeable and made buying a home easy. He was always quick to respond and efficient. I would highly recommend working with Robbie!
April 23, 2021.
Robbie and his team are very efficient, responsive and knowledgeable. Robbie has exceptional negotiating skills, and finds innovative solutions. I enjoyed my home purchase experience immensely. Thank you!
April 6, 2021.
This is the second house Robbie has helped us sell! He is very knowledgeable and professional! Genevieve also helped us a ton with buying our new home! We are so thankful for both of them and what they have done to help our family over the past two years! Thanks Robbie and Genevieve!
April 5, 2021.
Robbie exceeded our expectations; he was knowledgeable of the market trends in our area. He realized the square footage of our home in the prior appraisals was lower than the real area and that enabled us to get a better price for the home. We would highly recommend Robbie to anybody interested in selling or purchase a home.
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April 1, 2021.
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April 1, 2021.
Robbie was such a pleasure to have as my realtor. He is always patient, kind, and helpful. I'm a first-time home-buyer, so there were a lot of things I needed to learn about and a lot of complicated documents to slog through. Robbie and his team guided me smoothly through the whole process. Robbie has a lot of experience in the Albuquerque real estate market and was able to give me good advice. He always responds to calls, texts, and emails right away, never keeps you waiting. Everyone on his team, from the people in his office to his fantastic loan officer to all the inspectors he lined up for me -- they were all top-notch, professional, and really pleasant to work with.
John Goen
February 28, 2021.
Robbie Faithe and Jamie Cline were instrumental in our efforts to find and purchase our first home. Robbie helped strongly negotiate our position in a market that is frankly predatory and outright hostile to homebuyers, especially first-timers with little experience. He helped us move to a swift close while making sure everything was conducted soundly, promptly and with our interests at the forefront. He was supportive of us through the entire process, even after our first negotiations fell through, and was adamant about finding a house that we would truly want, not just the first home that met our loose criteria. Jamie Cline was vital in her role to assist us with booking appointments as well as keeping us apprised of all deadlines and offering advice when we desired. Overall, though this first-time homebuying experience was very stressful at times, Robbie and his team made sure there were as few impediments to the process as possible while making sure we were taken care of. I would definitely recommend their homebuying services and expertise.
February 28, 2021.
Robbie is truly the best in NM. I have worked with Robbie before and once again he accomplished everything me and my family needed. He sold our house within 24 hours. I recommend anyone looking to buy or sell a house to use Robbie Faithe and his company. Thank you to the Faithe Realtor Team!!

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