Why it matters
Price matters, but so do terms. Contingencies protect you; waiving them can win a house and cost you later.
What to do
- Look at recent sales of similar homes nearby to judge the price.
- Decide on earnest money, often about 1% to 3% of the price.
- Choose contingencies: inspection, appraisal, financing, and sale of your current home if needed.
- Set a closing date and ask for anything you want included, such as appliances.
- Decide in advance how high you will go if there are other offers.
Checklist
Ticks are saved on this device.
Common mistakes
- Waiving the inspection to win.
- Offering more than you can cover if the appraisal comes in low.
General information, not financial or legal advice. Rules vary by state; confirm with your lender, agent or attorney.
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