5 Simple Steps to Making an Offer

5 Simple Steps to Making an Offer

Whether you are just getting started in real estate or ready to make an offer, the initial "pull the trigger" of making an offer can be a bit overwhelming, anxiety-inducing, and scary. But it doesn't have to be. Knowledge is power and understanding the situation can be much clearer with a little bit of understanding. If you're not sure how the real estate offer process works, here's a simple five-step plan to making a real estate offer.

This simple five-step process is going to assume that you've already been preapproved, you have a real estate agent, you've prepared your earnest money deposit, which is typically between 1% and 3% of the purchase price and you save for a down payment or at least have your financing set up. Once all of that is taken care of, here are five simple steps to making an offer.

#1. Time your offer.

Your real estate agent will definitely help with that and as Park City Realtors®, we know the Park City area and know exactly when to make an offer even down to the time of day. The housing market can be extremely competitive so getting into a real estate contract quickly is the key. There may be listings that review offers on a certain date or maybe a listing has been on the market for some time etc.… All of these situations require timing the offer to get the best response.

#2. Minimize contingencies.

If you can, a cash offer is always more acceptable than a financed offer but that's not usually the case for everyone. However, you can minimize contingencies such as a home inspection, the sale of your existing home, or feasibility contingencies. Talk through all of these contingencies with your agent to determine the best way to approach contingencies in your offer, how to avoid them, and how to appeal to the seller.

#3. Be patient with the seller.

This is also a tricky situation in that you don't want to pressure the seller so that they simply reject the offer altogether but you also don't want to be so passive that they don't think you're serious. Waiting for a response from the seller can be stressful so try not to get too anxious over the process but be patient with the seller by letting them review the offer at their leisure.

#4. If declined, consider a counteroffer.

Good communication is key in a real estate transaction this is why I don't believe that the real estate profession will go completely automated. Real estate is still about relationships and it's that communication between the buyer's agent and the listing agent, buyer and seller, that can really get the deal done. Why is the seller selling? Is there motivation behind why they are selling and can you appeal to that motivation? What is the seller really looking for and while this might be important information initially, if there is a sense of urgency to make an offer, you may not have that communication before your initial offer. Now is the time to counter with something more appealing to the seller.

Related Post: 5 Potentially risky home buyer offers in multiple offer situations

#5. If accepted, go ahead with the homebuying process.

If the seller accepts your offer as is, great! It's time to move on. The next step will be a home inspection, the deposit of the earnest money, and moving on with the process, however, it's important to avoid the deal-breakers. Common deal breakers can include too many contingencies, asking the seller for some of their personal property, demanding a fast closing or specific closing date, or other changes after the initial offer has been accepted. It's important to work with the seller throughout the entire process so that nobody gets hung up and the transaction does not fall apart.

If you're ready to look for a home in Park City or surrounding areas, feel free to browse all of our featured communities below or take a look at the newest listings below that. We'd love to help you find, make an offer on, and finalize your home in Park City.

48 Properties
Page 1 of 4
$6,495,000
Neighborhood: Snow Park Subdivision
5
Beds
5
Baths
5,700
Sq.Ft.
2007
Year Built
1
Day on Site
12202065
MLS
Ideally located in Old Town and a short walk to Lower Deer Valley, enjoy the open floorplan and views from this private location. Designed around the views and the undevelopable lot next door, enjoy...
$2,495,000
Neighborhood: Pendry Residences Park City
2
Beds
2F11/2
Baths
1,399
Sq.Ft.
2021
Year Built
1
Day on Site
12202679
MLS
Privately perched above the Pendry plaza, this fully furnished 2BR penthouse is a great place to unwind at the Pendry Park City. Offering some of the best ski and mountain views from a 2BR at the...
$975,000
Neighborhood: Heber City
4,825
Sq.Ft.
2023
Year Built
1
Day on Site
12204033
MLS
Calling all investors, business owners, outdoor enthusiasts, hobbyists, and car collectors! Mountain View Commons is ideally located in the fast growing Heber Valley at the highly visible...
$975,000
Neighborhood: Heber City
4,825
Sq.Ft.
2023
Year Built
1
Day on Site
12204035
MLS
Calling all investors, business owners, outdoor enthusiasts, hobbyists, and car collectors! Mountain View Commons is ideally located in the fast growing Heber Valley at the highly visible...
$1,425,000
Neighborhood: Hart Crossing
3
Beds
3F11/2
Baths
2,597
Sq.Ft.
2022
Year Built
1
Day on Site
12204036
MLS
This one-of-a-kind conservation subdivision is surrounded by grassland acres that are never to be built on. It was designed to be that way! Combine scenic beauty of Kamas Valley with convenience and...
$1,050,000
Neighborhood: Heber City
4,825
Sq.Ft.
2023
Year Built
1
Day on Site
12204037
MLS
Calling all investors, business owners, outdoor enthusiasts, hobbyists, and car collectors! Mountain View Commons is ideally located in the fast growing Heber Valley at the highly visible...
$290,000
Neighborhood: Prospector Square Condos
1
Beds
1
Baths
315
Sq.Ft.
1978
Year Built
1
Day on Site
12204039
MLS
This recently updated studio condo located near the heart of Park City is perfect for anyone looking for a cozy spot located near all the adventure that Park City has to offer. Comes fully furnished...
Open 10/5
3930 Holiday Curve Dr Park City, UT 84098
$1,790,000
Neighborhood: Park West Village
4
Beds
3
Baths
2,590
Sq.Ft.
1991
Year Built
1
Day on Site
12204040
MLS
Absolutely dreamy home in coveted Park West Village nestled at the base of Canyons Ski area giving you access to skiing, hiking, biking, dining, shopping or anything Park City the local, free bus...
$1,385,000
Neighborhood: Hart Crossing
3
Beds
2F11/2
Baths
2,597
Sq.Ft.
2022
Year Built
1
Day on Site
12204041
MLS
This one-of-a-kind conservation subdivision is surrounded by grassland acres that are never to be built on. It was designed to be that way! Combine scenic beauty of Kamas Valley with convenience and...
$975,000
Neighborhood: Heber City
4,825
Sq.Ft.
2023
Year Built
1
Day on Site
12204042
MLS
Calling all investors, business owners, outdoor enthusiasts, hobbyists, and car collectors! Mountain View Commons is ideally located in the fast growing Heber Valley at the highly visible...
$815,000
Neighborhood: Heber City
5
Beds
2F13/411/2
Baths
2,869
Sq.Ft.
2017
Year Built
1
Day on Site
12204043
MLS
Nested on a quiet street in an amazing Heber neighborhood called Wheeler Park, this home is perfect for families of all sizes. Featuring a fully fenced backyard and large deck made for entertaining...
$3,950,000
Neighborhood: Snyders Addition
4
Beds
2F11/2
Baths
2,661
Sq.Ft.
2016
Year Built
2
Days on Site
12204018
MLS
This newly built mountain-modern luxury home is located in the heart of Park City's historic Old Town neighborhood. Offering the convenience of a short walking distance to skiing at the base of Park...
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