Make An Offer and Negotiate the Price: Step 5 of 8 to Buying a Home in Birmingham Alabama

Buying a home can be a daunting task. Because, most people only buy a home once every few years (or longer), we wanted to take the time to remind you of the steps involved in buying a home. This way, you can feel like you have some control of this home buying process.


We have identified eight steps to buying a home. These are:
1. Decide to buy a home.
2. Find a great real estate consultant.
3. Secure financing
4. Find your dream home.
5. Make a written offer and negotiate the price.
6. Open an escrow account. (Earnest Money)
7. Have a home inspection.
8. Sign the final documents, get the key, and move into your new home.




Step 5, Make a written offer and negotiate the price. Now that you have found the home that is perfect for you it is time to work with and through your real estate consultant to make a written offer on the home.




In most cases, people submit their first offer below the listing price. Talk to your real estate consultant about this. Since they are your representatives, they should know what homes have been selling for in that area or neighborhood. Usually, the seller will not accept this first offer.




They will negotiate by countering back with another price. As the negotiating process goes, you will go back and forth until you come to a price that you both can agree on.




Once you have agreed upon a price, it is time to submit earnest money and open the escrow account.