Buying- Making An Offer

Once you have found the home you wish to purchase, you will need to determine what kind of offer you are willing to make for the home. To communicate your interest in purchasing a home, we will present the listing agent with a written offer.

One of the first steps in writing an offer is for us to perform a market analysis to make sure the home is priced correctly. We will provide data so that we can sit down together and come up with an offer price that makes sense. Offer price can range from well below the asking price to above the asking price. The latter is usually the case in multiple offers. A market analysis (CMA) consists of looking at recent sales along with currently active homes. We usually use homes within a 1/2 mile radius, within the last year (or half a year), a similar style, and similar square footage.  With this data, we can determine what your favorite home can be purchased for.

When an offer is accepted by the seller, it becomes a firm and binding legal contract. When you write an offer, you should be prepared to pay a small deposit. Typically, most people put 1% to 2% down as the initial deposit, called earnest money. This is to show your genuine intention to purchase the property.

Once your offer is presented, the listing agent, in consultation with the seller, will either counter, reject, or accept your offer. If it is countered, we will further negotiate the terms and conditions of the contract until everyone is in agreeance.

Contact   Info

Drop us a message. Ask us a question. Contact us.


7700 France Ave S #230
Edina, MN 55435
(952) 915-2252 (direct office)
(952) 884-8404 (office front desk)

Steven Hong, REALTOR
Team lead
Old Home Certified
(612) 990-9009

Each office independently owned and operated.  All information is deemed reliable but not guaranteed, and should be independently reviewed and verified. Equal opportunity housing. 

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