Making an Offer on Your Houston Area Home
When purchasing real estate within the Greater Northwest Houston and Cypress areas there are specific steps that should be followed to ensure you have a better chance of your offer being accepted. While most of the paperwork begins once an offer has been placed and accepted, prior to placing an offer on a home you should always get both pre-qualified and pre-approved by a lender. When you provide the seller with your pre-approval letter, generally speaking, this aids in your chances to have the offer accepted as it shows the seller that you not only have the needed funds for the purchase but are ready to move to the next steps.
When placing an offer on a home you want to be sure that you have done your research prior so that you aren’t offering to purchase a house you may regret as soon as you’re handed the keys. Use the following as a guide to help when deciding if you are ready to place an offer.
1 – Why is the seller selling?
Ideally, the best answer to this question could be either relocating, downsizing, outgrowing the home, etc. however, by asking the seller why they are selling you may discover there is more to the sale than meets the eye. Ask if there are problems, structural defects, poor neighbors, etc. Get the real “why” behind the seller’s decision to sell as this could help protect your future investment.
2 – What did the seller buy the property for?
In most cases, you can find the purchase price of the property in the online listing, if you can’t find it, ask your buyer’s agent to find the initial purchase price for you. While the original sale price doesn’t factor in the current market value or improvements the seller may have made, it gives you a better idea of any wiggle room there may be. For example, if the seller purchased the house for $200,000, and is now selling for $400,000, they are likely to get a large profit and thus may be willing to negotiate more than a lower profiting sale.
3 – Has the seller faced any problems within the home?
Once your offer has been placed you will be able to conduct a home inspection where any damages will be disclosed to you, however, it is always recommended that you ask the seller if they’ve personally encountered any problems during their time living there. This could be something along the lines of a roof leak, problems with the HVAC system, old electrical wiring, etc. If a problem is mentioned, it is also important to ask about the repairs made to ensure they were done properly.
4 – Is it in a good School District?
While you will want to research the school district on your own, you can always ask the seller if they like the district and get personal insight and information. Luckily the Cypress and Houston areas are home to some of the best districts within the state of Texas.
5 – Are there noise problems?
In addition to asking the seller about any noise complaints it is also recommended to drive through the neighborhood at all different times of day and all days of the week. Listen for trains, airplanes, traffic noises, construction, etc. Often during open houses soft music or sound machines will be playing in the background, if this is the case politely ask to have the music turned off so you can listen for any noise that may become a problem should you place an offer that is accepted.
While making an offer on a home doesn’t seal the deal, you should always be sure that you are ready to follow through with the purchase prior to placing an offer. By asking these questions and doing your research you have a better chance of loving your home. Place your offer, and enjoy the rest of the home buying experience!