How Do I Make an Offer on a House as a First-Time Buyer in Erie?

How do you make an offer on a house as a first-time buyer in Erie? You look at what similar homes nearby have sold for, decide on a price and terms you're comfortable with, and put it all in a written contract that your agent sends to the seller's agent. The price matters, but so do the deadlines, the deposit and the date you want to close. A strong first offer is one you understand line by line before you sign it.

If you've never done this before, the word "offer" can feel bigger than it is. You're not signing up for a house the moment you send it. You're making a written proposal, and the seller can accept it, say no, or come back with changes. Knowing that takes a lot of the fear out of the moment.

I'm Carol, and Homes by Carol is my real estate practice here in Erie. Carol Vanlandingham is a REALTOR® with eXp Realty in Erie, Colorado, helping people through life transitions, downsizing, first homes and relocation across Erie, Boulder County and Northern Colorado. I've been licensed for 10 years and have lived in this area for over 31 years. Helping someone write their first offer is still one of my favorite parts of the job.

You need two things in place before you find the house, not after.

The first is a pre-approval from a lender. It tells you what you can comfortably spend, and it tells the seller your offer is real. I ask every buyer to get pre-approved before we tour. The home buyers lose is often the one they weren't ready to make an offer on. If you don't have a lender, I have a list I recommend, and you're free to use anyone you choose. You can read more about getting ready.

The second is a clear picture of how we work together. Before our first showing, we sign a written buyer agreement, and I go through it with you line by line. Ask me anything about it. It's much better to have those questions answered on a quiet afternoon than in the middle of a decision.

If you're not there yet, start with my article on how to get ready to buy your first home in Erie.

An offer is more than a price. Here are the main parts, in plain words.

• The price. What you're willing to pay for the home.
• Earnest money. A deposit that shows the seller you're serious. It's held until closing and then counts toward what you pay. Your contract says how much it is, who holds it and when it's due.
• How you're paying. The type of loan you're using, or cash. Your pre-approval letter goes with the offer.
• Deadlines. Dates for your inspection, your appraisal, your loan approval and other steps. Each one gives you certain choices by a certain day.
• The closing date. When you'd sign the final papers and get the keys.
• What stays with the house. Things like appliances or window coverings. If you want something included, it should be written down.

Every one of these is something you can ask about. Nobody expects you to know the contract before you've seen one.

Here's the order I walk my first-time buyers through. Your situation may change the details, and I'll explain yours as we go.

Step 1: Decide if this is the one

Before we talk numbers, we talk about the house. Does it fit the list you started with? Can you picture your mornings there? If you're not sure, sleep on it. A day of thinking is often worth more than being first. My article on what to look for when touring a house can help you sort your notes.

Step 2: Look at what similar homes sold for

I pull the homes nearby that compare with this one and have sold recently, and I tell you how I think the home is priced. You see the same sales I'm looking at. When a price comes from real sales instead of a feeling, it's much easier to feel good about.

Step 3: Talk about what I noticed in the house

Before I was licensed, I fixed and flipped houses while raising my three boys. So I notice things like the age of a roof or work that wasn't done well. I'm not a home inspector, and I always recommend a professional inspection. I'll tell you what I'd want looked at, so your offer reflects what you saw, not only what the photos showed.

Step 4: Choose your price and terms

With the sales and the house in front of us, we talk through price, earnest money, your closing date and your deadlines. I'll explain how each choice might look to the seller. Then you decide. I advise. The decision is always yours.

Step 5: Check the neighborhood papers

Many of Erie's newer neighborhoods have an HOA, and some sit inside a metro district that adds its own charge on top of property taxes. Erie also sits in two counties. West of County Line Road is Boulder County, and east of it is Weld County. These things affect what you pay each month, so it helps to know them before you settle on a price. My Erie page has more about the town.

Step 6: Sign and send

Once you're comfortable, you sign the offer electronically and I send it to the seller's agent with your pre-approval letter. Then we wait for an answer, usually by a deadline written into the offer.

Step 7: Respond to the seller's answer

The seller may accept, say no, or send back a counteroffer with different terms. If they counter, we look at what changed and you decide whether to accept, counter again or walk away. There's no wrong answer here, only the one that fits your budget and your plans.

You're "under contract." The house isn't yours yet, but you're on the path to closing. Your earnest money goes in, you schedule the inspection, the appraisal happens if you're using a loan, and your lender finishes your approval. I keep track of every date and tell you what's needed from you and when.

One thing I tell every buyer: always confirm wiring directions by phone, using a number you already know, before you send any money.

I wrote a full article on what happens after your offer is accepted if you'd like to see the rest of the road.

These are the ones I see most. Every one of them is easy to avoid once you know about it.

• Shopping before getting pre-approved. You find the right home and can't act on it. Get the pre-approval first.
• Picking a price from a feeling. Loving a house doesn't change what similar homes sold for. Start from the sales, then decide.
• Looking only at the price. Deadlines, earnest money and the closing date all matter to a seller, and they all matter to you.
• Skipping the inspection to look stronger. It's your best look at what you're buying. I always recommend one.
• Forgetting the monthly costs beyond the loan. HOA dues and metro district charges belong in your budget before you write the offer.
• Being afraid to ask questions. A question you don't ask can turn into a surprise you didn't want. Ask all of them.
• Making big money moves after the offer. A new credit card or a new car can affect your loan right before closing. Talk to your lender first.

Can I make an offer below the asking price?

Yes, you can offer any price you choose. Whether it makes sense depends on what similar homes sold for and how long this one has been for sale. We look at those together, and you decide.

What happens to my earnest money if the deal falls through?

It depends on why and when, and your contract spells that out. The deadlines in your offer give you certain choices by certain dates. I'll walk you through what each one means before you sign.

How long does the seller have to answer my offer?

Your offer includes a deadline for the seller to respond. We pick that date together when we write the offer.

What if someone else makes an offer on the same house?

That happens. The seller compares the offers on price and terms. We can talk through how to make yours clear and strong without going past what you're comfortable paying.

Do I need to be there in person to sign?

No. Most documents can be signed electronically, from wherever you are.

I listen before I advise, and I explain every step before you reach it. You can read more about how I work with first-time home buyers. Even if your first offer is a year away, an early conversation gives you time to prepare. Send me a note or call me at (303) 522-3130.