Experts estimate that home shoppers may view 10 to 15 homes before making an offer. While this might seem like a lot of houses, you'll understand why as you begin touring them.

Each home has pros and cons, and homes are a big investment. However, you will eventually find the perfect home. When you do, you'll need to make an offer to buy it.

Learning how to make an offer on a home is a vital part of the home-buying process, especially if this is your first time. But we've got you covered. 

Keep reading this guide to learn everything you need to know when preparing to make an offer on a house.

Make Sure You're Pre-Approved

The home sale process requires many steps, but most real estate agents recommend starting with a mortgage pre-approval.

Home sellers want to ensure that people who view their homes and write offers are qualified buyers. You can prove you're a qualified buyer through a mortgage pre-approval letter. 

Getting pre-approved for a mortgage requires applying for a mortgage loan with a lender of your choice. The lender verifies your income, credit, and finances to determine if you meet the criteria.

If you meet the lender's criteria, they'll offer a pre-approval letter. This letter doesn't guarantee a loan, but it helps you and the other parties know that you meet the loan standards. 

You can complete this step by finding a lender. Next, you can complete the application forms and submit the necessary information. Once you get your pre-approval letter, you can start shopping for the right home to purchase.

Know Your Limit

One key part of the mortgage pre-approval process is it tells you how much you can borrow. This detail is crucial when buying a home, as it guides you to the right homes to view. 

Your lender will give you an amount you can borrow, but you don't have to borrow this much. However, you won't be able to borrow more than this amount. Therefore, you can use it as a guide.

You might also want to review your finances to see how much you think you can afford. You might not want to spend the total amount your lender approves, and you don't have to.

The point of this step is to consider your budget. How much do you want to spend? What is the maximum amount you're willing to spend?

You may want to look at current home sale prices to see what type of home you can get for your budget. Additionally, you can research things to know about buying a home to learn more about the process. 

Hire the Right Agent

Writing an offer on a home is something you'll need help with, so the next step is finding an agent. Your real estate agent doesn't only help you with your offer. Instead, the agent assists with every step.

First, your agent can help you learn more about the area. For example, are you new to the San Diego area? Do you have questions about this city? 

Your agent can answer your questions and help you learn the perks of living in San Diego. They can also help you learn which areas to avoid and the home price differences based on neighborhoods. 

Next, your agent can help you view homes for sale, write an offer, and negotiate the home purchase.

Of course, your agent also assists with every other step needed to buy a house, so it would help if you found a great agent. 

Find the Right House

Once you complete these steps, you'll be ready for the fun part: shopping for a house. You can't make an offer until you find the right house, which might take some time.

You can tell your agent what you're looking for in a home, and they'll search for homes for sale that match these features. Then, you can review the listings to decide if you want to view them.

Finding a home requires viewing houses for sale. You can base the homes you view on the price of a house, its features, and location. You can also factor in the home's condition. 

Evaluate the Home

Viewing homes is the best way to find the right one, but your agent will suggest evaluating its condition before making an offer. Evaluating a home's condition helps you find a good one, but how do you evaluate a house?

You can evaluate a home by bringing someone with you to see it. For example, do you have a friend who knows about home construction? Do you have any contractor friends? 

Getting an extra set of eyes on a house provides more insight into its condition, as they'll likely see things you didn't notice.

Next, you might want to research the area to determine the local home prices, school systems, and safety features. Once you find the right one, you'll be ready to write the offer. 

Discuss the Offer With Your Agent

You can let your agent know you're ready to make an offer, and they'll come to your home to discuss the deal. Your agent can help you determine the vital factors to consider in your home offer, which include the following:

Offer Amount

First, how much do you want to offer for the home? You can base this on the home's asking price, current market conditions, and home condition.

Your agent will offer advice and suggestions. However, you have the final say in the amount you offer. 

Remember, you'll need to make a competitive offer if the market is in a state of high competition. During competitive market conditions, buyers tend to fight over homes, leaving buyers in bidding wars. 

Contingencies

Secondly, you can include contingencies in the offer. A contingency is a condition, and you can add as many as you'd like.

There are several contingencies found in most home purchase offers. For example, you can state that the deal is contingent upon financing. This means the deal is off if you can't get a loan.

An appraisal contingency is another common one found in purchase offers. Another common one is a satisfactory home inspection. 

You can add contingencies to ask the seller to do something. For example, would you like the seller to pay some of your closing costs? Would you like them to replace the furnace, windows, or bathtub?

You have the chance to ask for anything you want in your offer. However, you can turn off a seller by asking for too many things. 

Earnest Money

Next, you can discuss the earnest money. Earnest money is money you pay the seller when issuing the offer. This money shows the seller that you're serious about the purchase and is necessary. 

Timeframe 

Finally, you can talk to your real estate agent about the timeframe of the deal. For example, how quickly can you close the deal? You can include these details in the offer to help the seller understand how much time they have. 

Additionally, your offer can give the seller a limited time to respond. For example, you can state that your offer is good for 48 or 72 hours. The seller must respond by this, or it voids the deal. 

Write the Offer

After discussing these things and other vital details, your agent will write the offer. They can do this while they're with you, as you must sign it. You can also present a check for the earnest money at this time. 

When you sign the purchase offer and offer the earnest money, the agent will send the offer to the seller's agent. The timeframe then begins, and the seller must determine how to respond.

Prepare to Negotiate

You'll need to be patient during this time, as the seller might not respond until the last minute. If the seller needs to sell their house, they'll likely accept your offer if it's a fair offer. 

However, it's common for sellers to counter offers they receive, which means you might need to negotiate. Fortunately, your agent can help with this step. 

Once you reach a mutual deal, you'll be one step closer to closing on the deal. 

Learn How to Make an Offer on a Home With an Agent's Help

You can learn how to make an offer on a home by reading this guide. However, you can learn even more by contacting a local real estate agent.

You'll need the right agent for the job, so contact us at Team Steele San Diego Homes. We can help you find the right home and write an offer for the house.