The process of writing an offer involves several key steps. We will work together to complete the necessary forms, which can often be done via Zoom. During this process, you will need to specify several important details:

• Property Details: Identify the property you are making an offer on.
• Offer Price: Indicate the amount you are willing to pay for the property.
• Due Diligence: Outline the due diligence procedures you plan to undertake, including any inspections or assessments.
• Timeline: Establish a timeline for completing each step of the purchase process.
• Deposits: Specify the deposits required, including your earnest money deposit, purchase and sale deposit, and the down payment if you are financing the property.

Once you have identified a property and decided to make an offer, it is crucial to understand the offer timeline. The period between deciding to make an offer and actually submitting it can vary significantly. Often, you may have a few days to prepare your offer. However, in competitive markets, you might need to act immediately upon seeing a property.

This urgency can be daunting, but our goal is to guide you through this process with the necessary information and confidence. We will work with you beforehand to explain the steps involved and ensure you are well-prepared. Although the timeline for writing an offer can sometimes be very short—potentially on the same day you view the property—most often, you will have a couple of days. Our role is to help you navigate this process smoothly and effectively.

The process of accepting offers and managing inspections can create significant pressure for buyers, often leading to feelings of unfairness. Buyers might question why sellers appear so rigid or why there is so much pressure to act quickly.

This pressure stems from the fact that on the day offers are reviewed, sellers receive all potential bids simultaneously. This represents the peak of competitive offers, as buyers are most motivated and willing to negotiate aggressively to secure the property. Once this initial moment passes, the quality and competitiveness of subsequent offers typically decline.

As time progresses, sellers face a deterioration in their negotiating position. The property may attract fewer or less favorable offers, and sellers might have to accept lower prices or deal with more contingencies. Consequently, sellers are keen to secure a committed buyer who will complete the transaction without the property reverting to the market, thus mitigating their risk and potential loss.

It is often advised that buyers waive all contingencies to increase their chances of securing a property, but this approach is not universally recommended. Instead, we advocate for a thorough due diligence process to safeguard your interests. Here are some strategies we employ to enhance offers while still protecting your position:

To demonstrate a strong commitment to the property, we suggest increasing the earnest money deposit. Rather than the typical $1,000 or $10,000, consider offering $20,000 or $40,000. This larger deposit signals serious intent and financial capability, showing that you are unlikely to walk away from the deal except under the contingencies outlined in the agreement.

Before submitting your offer, conduct as much due diligence as possible. For instance, complete inspections and review condominium documents in advance. This proactive approach minimizes the number of contingencies required in your offer, typically leaving only the mortgage contingency. By addressing these aspects beforehand, you strengthen your offer and demonstrate to the seller that you are well-prepared and committed.