Making an Offer
How to craft a winning offer in Northern Virginia's competitive market
Key Elements of Your Offer
Purchase Price
Based on comparable sales, market conditions, and the home's condition. I'll help you determine a competitive price that reflects true market value.
Earnest Money Deposit
Typically 1-3% of the purchase price, this shows the seller you're serious. In competitive situations, a larger deposit can strengthen your offer.
Financing Terms
Your pre-approval letter, down payment amount, and loan type (conventional, FHA, VA). Cash offers are strongest, but strong financing is competitive.
Contingencies
Conditions that must be met for the sale to proceed—typically inspection, appraisal, and financing contingencies. Fewer contingencies = stronger offer.
Closing Timeline
How quickly you can close matters. Standard is 30-45 days, but flexibility to match the seller's preferred timeline can help.
Strategies for Competitive Situations
Strong Earnest Money
A larger earnest money deposit demonstrates your commitment and financial strength.
Escalation Clause
Automatically increase your offer up to a maximum if competing bids come in higher.
Flexible Inspection
Offer a shorter inspection period or limit what repairs you'll request.
Appraisal Gap Coverage
Offer to cover the difference if the home appraises below your offer price.
Flexible Closing
Let the seller choose the closing date that works best for their situation.
Personal Letter
A heartfelt letter about why you love the home can sometimes tip the scales.
After Your Offer is Submitted
Seller Reviews
The seller and their agent review your offer and any competing offers.
Response Options
Accept, reject, or counter your offer. We'll negotiate until we reach agreement.
Under Contract
Once accepted, you're officially under contract and move to the due diligence phase.
Ready to Make an Offer?
I'll help you craft a competitive offer that stands out in Northern Virginia's market.