What questions should I ask before making an offer on a Twin Cities home?
Answered by Chris Deutsch, Founder & Editor
Licensed Minnesota Realtor #20382264 ·
The short answer
Before we write an offer, I want to know the answers to a handful of things — some from the listing, some from the seller's agent, some that you need to answer for yourself.
On stage The 60-second answer
Captions on · Transcript below
The stage is set.
Chris's video answer is on its way. Until then, the short answer above says the same thing.
The transcript posts with the video.
The longer answer
On the property: How long has it been on the market, and has the price changed? Days on market and price history tell you a lot about how motivated the seller is and whether the original pricing was realistic. What do the utility costs actually look like? A low asking price on a house with $400 winter gas bills changes the math.
On the seller's situation: Is there a timeline they're working toward? A seller who needs to close by a certain date for a job start or a new purchase is a different conversation than one who's in no hurry. Sometimes matching someone's timeline is worth more to them than an extra few thousand dollars.
On the neighborhood: What's selling nearby, and what did it actually close for — not what it listed for? I'll pull the comps before we ever talk about a number. 'Fair price' isn't a feeling; it's a data point.
On your own situation: What's your real ceiling — not the maximum the lender approved, but the number where you'd still sleep fine if rates ticked up? And how much do you want this particular house? If it's the one, we write the offer that gets it. If it's a good option but not the only option, we have more room to be patient.
I ask all of this before the offer gets written. None of it should be a surprise at the table.
The next department over
What people in this spot usually ask next.
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From the editor's desk
“As Founder and Editor, I review, correct, and stand behind every answer.”
Is your situation more specific than the market? That's the one worth talking through.