Purchase Offers: What You Need to Know

Heather’s Guide to Reading, Understanding, and Responding to Offers

What is a Purchase Offer?

A purchase offer is a written proposal from a buyer to purchase your home. It includes the buyer’s price, terms, and any conditions (called contingencies) that must be met for the sale to close. I’ll receive the offer on your behalf, review it with you, and help you understand every detail before you make a decision.

Timing is Key

Most offers come with an expiration date—often within 24 to 72 hours. We’ll need to respond quickly, and I’ll guide you through the process step-by-step to keep things moving efficiently.

How to Evaluate an Offer

When reviewing an offer, we’ll focus on more than just price. Here are the key elements we’ll look at together:

  • Offer Price – Is it competitive based on current market data?

  • Earnest Money Deposit – A strong deposit indicates serious intent.

  • Loan Type & Down Payment – Conventional, VA, FHA, or cash? The type and amount of financing matter.

  • Closing Timeline – Does it align with your plans and flexibility?

  • Concessions or Credits – Is the buyer asking for anything extra?

  • Contingencies – Conditions that can affect the success of the deal.

Understanding Contingencies

Contingencies are common, but they come with pros and cons. Here’s how I recommend you approach the most frequent ones:

Home Inspection Contingency
Allows the buyer to renegotiate or cancel based on findings.
Pro: Protects buyer.
Con: Can open the door to delays or price changes.
I often suggest considering a pre-listing inspection to stay ahead.

Appraisal Contingency
If the home doesn’t appraise at the offer price, the buyer can back out.
Common with VA loans, where stricter appraisal standards apply.
We’ll prepare with local comps and highlight your home’s value.

Financing Contingency
Buyer needs full loan approval.
If denied, they can cancel without penalty.
We’ll verify their pre-approval and lender strength early.

Other contingencies may include the sale of another home, title review, or specific inspection results.

Final Thoughts

Strong offers aren’t just about the highest price. Terms, timeline, and the buyer’s financial strength all play a role. I’ll help you read between the lines, assess risks, and negotiate terms that protect your interests and support your goals.

We will review each offer with clarity and confidence—and make the best decision for your next step.

 

Heather Ward

United Real Estate Premier


Office:
12225 Amos Lane, Ste. 303, Fredericksburg, VA, 22407
www.UnitedRealEstatePremier.com
(540) 374-1111
Agent:
hward6@gmail.com
(915) 209-2104

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Home Contact Heather Preparing To Buy Your Home Finding A Property Making An Offer Finding a Home Loan Closing the Deal Preparing To Sell your House Want to Sell? Purchase Offers Closing The Deal Pricing Your Home

This content last updated on Saturday, August 2, 2025 5:36 AM from BRIGHT.

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