An Offer is More Than the Price

With the possible exception of price, the terms of your offer should mirror as closely as possible the terms the sellers' agent expressed would be preferred without impairing your important legal protections and other common sense needs.
Couple Works Out Budget for Kitchen Renovation

Couple Works Out Budget for Kitchen Renovation

This couple talks with a financial adviser after making the decision to renovate their kitchen. Having a budget to work within will keep the project in line with finances.

Photo by: Jupiterimages


By: Tara-Nicholle Nelson
Related To:

Price isn't the only way to win over the seller. Non-price terms -- like a quick close or an all-cash transaction -- can be appealing for sellers, particularly if they are motivated or your offer price is a lot lower than the asking price. Whatever terms you spell out in your offer, they should mirror as closely as possible the terms the seller prefers without impairing your important legal protections and other common sense needs. A number of non-price terms don’t necessarily impact you much cost-wise. For example, a quick close of escrow or allowing the sellers the option to rent-back may not cost you anything. Other terms, like offering to pay more than your normal share of the closing costs, might cost you a little chunk of change, but could seal a deal that will make you big bucks in the long run. If it doesn’t cost you anything, or costs very little in the grand scheme of things, why not give the sellers what they want if it makes it much more likely that you get what you want?

The favorite non-price term of sellers is offering to accept the property in as-is condition. This could cost you nothing, could run you a modest amount of money to do upgrades you might have done anyway, or might require you to expend a lot of money on repairs over your tenure as homeowner, depending on the facts of the specific situation.

Keep Reading

Next Up

Pricing Your Home to Sell

Follow these tips for pricing your home correctly in a competitive market.

How to Make an Offer for a House

Making an offer on a house isn't a total roll of the dice. There are some basic steps you and your Realtor can take to arrive at a price range and other terms that make sense.

The Price Is Right

One of the most important steps in the house-selling game is pricing your house right. Here's how to pick a number that works.

Crafting a Winning Purchase Offer

Learn these dos and don'ts when negotiating with the seller.

Consider Buyers’ Motivations When Making an Offer

Put yourself in a position of strength in multiple offer situations.

Did I Accept a Bad Offer on My Home?

Worried you accepted a bad offer for your home? Let real estate expert Tara-Nicholle Nelson soothe your fears.

All About As-Is Offers

Here are some things to know if you're thinking of making an as-is offer on a home.

Building Mortgage Interest: More Tax Deductions and Incentives for Homeowners

Learn about the many tax advantages of homeownership, including special deductions and local incentives.

Anti-Checklist: What Not to Do When You're Making an Offer or Negotiating

Don't even bother trying to justify a lowball offer. (Believe me, the seller and their agent were well aware that there's an electric tower in the backyard when they set the asking price.) Avoid these buyer faux pas when offering on a house.


Follow Us Everywhere

Join the party! Don't miss HGTV in your favorite social media feeds.