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.

52 Properties
Page 1 of 5
$1,084,990
Neighborhood: Brookside (Heber)
7
Beds
4F13/411/2
Baths
5,593
Sq.Ft.
2023
Year Built
2
Days on Site
12303499
MLS
Brand new popular ''Campbell 3'' floorplan in the gorgeous Heber community. Minutes from all the amenities of Heber Main Street including shops, restaurants, grocery, and entertainment. Magnificent...
$829,000
Neighborhood: Timberlakes Area
3
Beds
1F23/4
Baths
2,611
Sq.Ft.
1995
Year Built
2
Days on Site
12303559
MLS
A world away, 10 minutes out of Heber. Timber Lakes is an outdoor enthusiasts paradise. Beautiful sweeping views of the mountains and the wild life including deer, moose and elk, right from the...
$250,000
Neighborhood: Prospector Square Condos
1F13/4
Baths
315
Sq.Ft.
1978
Year Built
2
Days on Site
12303561
MLS
Calling all buyers! Discover an exceptional opportunity in the heart of Park City with this first-floor studio at Prospector Square. Whether you're in search of a personal retreat or a wise...
Open 10/4
7 Canyon Ct Park City,  UT 84060
$5,350,000
Neighborhood: Aspen Springs Ranch
5
Beds
5F11/2
Baths
5,960
Sq.Ft.
1994
Year Built
2
Days on Site
12303564
MLS
This luxurious newly remodeled, five-bedroom, five-and-a-half-bath, home with high-end finishes is an entertainer's paradise with stunning amenities. The exquisite main level boasts a spacious...
$6,500,000
Neighborhood: Hidden Oaks
6
Beds
6F21/2
Baths
6,700
Sq.Ft.
2020
Year Built
2
Days on Site
12303566
MLS
Welcome to one of Park City's most extraordinary homes! As a result of an amazing lot and excellent design, not only does the residence boast drop dead gorgeous views from nearly every room, but it...
$545,000
Neighborhood: Uinta Shadows
2
Beds
1
Baths
1,092
Sq.Ft.
1935
Year Built
2
Days on Site
12303568
MLS
You must see this home. It has been completely remodeled. It has a new Roof, Windows, Electrical, Plumbing, Appliances and Tile floors. The home is surrounded by mature trees, a large fenced yard and...
$1,590,000
Neighborhood: Summit Park
4
Beds
3
Baths
3,132
Sq.Ft.
1991
Year Built
2
Days on Site
12303571
MLS
Introducing this beautiful home within Summit Park that envelopes the charm of mountain living. Nestled amidst nature's beauty, the property features a gradual sloped private yard that provides the...
$3,295,000
Neighborhood: Arrowleaf
2
Beds
2F11/2
Baths
1,447
Sq.Ft.
2007
Year Built
2
Days on Site
12303574
MLS
Welcome to a home where luxury meets the slopes! This 2 bedroom 2.5 bathroom ski-in, ski-out residence, nestled in the esteemed Empire Pass, Deer Valley offers unparalleled views of the enchanting...
$2,950,000
Neighborhood: Fairway Village
4
Beds
4F11/2
Baths
2,911
Sq.Ft.
1979
Year Built
2
Days on Site
12303576
MLS
Reimagined from the ground-up in 2023 for modern, luxury living, this Park Meadows townhome with high-style contemporary design and panoramic ski views is designed to satisfy Park City buyers with...
$610,000
Neighborhood: Newpark Hotel
2
Beds
2
Baths
979
Sq.Ft.
2007
Year Built
2
Days on Site
12303577
MLS
The Newpark Hotel represents the very best purchase opportunity available today. Nearby restaurants and shops and a convenient location with easy access to skiing make this property an ideal place to...
$620,000
Neighborhood: Newpark Hotel
2
Beds
2
Baths
982
Sq.Ft.
2007
Year Built
2
Days on Site
12303578
MLS
The Newpark Hotel represents the very best purchase opportunity available today. Nearby restaurants and shops and a convenient location with easy access to skiing make this property an ideal place to...
$690,000
Neighborhood: Newpark Hotel
2
Beds
2
Baths
982
Sq.Ft.
2007
Year Built
2
Days on Site
12303579
MLS
The Newpark Hotel represents the very best purchase opportunity available today. Nearby restaurants and shops and a convenient location with easy access to skiing make this property an ideal place to...
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