Determining Value. The value of a home is how much a buyer is willing to pay for that home not necesarily what the seller is asking for the home. So how do you determine what the home is worth to you. Consider the home in comparison to the homes you did not choose and consider your situation and timing. In addition, your agent should provide you with comparables of homes like the one you are wanting to make the offer on. If the your choice home is in priced in the range of the comparables and is in just as good or better condition then the home may be priced right and your offer will more than likely ned to be closer to the asking price. If the comparables do not support the price the seller is asking you may want to consider offering a lower amount for the home. Your agent will help you determine the price to offer but ultimately this will be your decision.

Earnest Money. When writing an offer to purchase property you will need to provide a personal check or cashier?s check to include along with the offer. Deposit of one to two percent of the sales price is normal, and up to five percent may be required if your contract is for new construction. These funds are called "earnest money" and represent to the seller an indication of your sincerity in the attempt to complete the purchase. Any earnest money will be returned to you in full if the offer is not accepted by the seller. If your offer is accepted, your earnest money deposit will be retained by the seller's broker in a special non-interest bearing account until the day of closing or may be held by the builder as a deposit. You will be given credit for these funds at closing.

Approval Letter. Now is the time that you will be rewarded for obtaining your financing in advance. Providing an approval letter with an offer will help to make your offer stronger with a seller and may even help your offer to be accepted over another offer in a multiple offer situation. And even though contracts have a finaning contingency allowing you to apply for a loan after the offer is accepted, you will feel more confident making an offer on a home if you already know that you can afford it.

Contingencies. There are a many contingencies usually placed in an offer to purchase. The financing contingency will hopefully already be taken care of by having your approval letter in advance. Inspection contingencies can include
a home inspection, termite, radon, asbestos, mold, hvac, roof and any other inspections on the home within a specified period of the contract acceptance. If you are in the process of selling your current home and must sell it prior to buying the home you are putting an offer on this is called a sale contingency and must be put in offer to purchase. Other contingencies may also apply, talk to your agent in detail and make sure they understand your situation so they can advise you correctly.

Special Requests. If there are any other special requests you would like the seller to help with or provide, this is also the time to ask for those in the offer to purchase. These may include items such as asking the seller to pay all or a portion of the closing costs, leaving furniture or belongings that would not typically stay with the home or other special conditions. Again, talk to your agent in detail and make sure they understand your situation so they can advise you correctly.