When making an offer

Do you tell the sellers how much cash you're putting down? Do you also tell them why you're bidding lower than asking price? Or do you just offer a number and leave it at that? Thanks for the help!

give a number and leave it at that

if you are putting a lot down you may prefer to mention that because it will help you if you are competing with another buyer

we made an offer recently through our agent. this is what we were asked; price, down payment amount, % down at contract (usually 10%), closing date, pre-approval letter.

ETA: you do not have to justify your price. if the house is in horrible condition and you are offering WAY below asking then maybe, but otherwise not.

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Posted by NPbride

Do you tell the sellers how much cash you're putting down? Do you also tell them why you're bidding lower than asking price? Or do you just offer a number and leave it at that? Thanks for the help!

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If the house is being sold through a real estate agent, then you make an offer through them. If not, you tell the seller your offer. They will want to know the % you plan the put down, but that is usually covered through the pre-approval process, which most people have prior to making an offer. We actually did not go get preapproved prior and we had no problem. When we told the real estate agent our offer she set us up in the mean time w/ a broker to get preapproved, but took our word regarding our credit and such. We told her what we were planning to put down and she went ahead and told the sellers and they accepted it! They next day we did the pre-approval paperwork. It was not until we went into contract that we had to state the % we were putting down at contract. Hope this helps a little.

We gave the offer and told the percentage we would be putting down. We were pretty close to asking and bidding against 2 others so the percentage down meant who got the place!

Good luck!