Eureka. We've found it!

You and your Coldwell Banker Chesapeake real estate expert have found the perfect property. Now the real business begins.

Here's what you need to understand about making an offer.

When you have found that perfect house, you'll probably find yourself getting emotionally involved. Maybe you'll imagine moving your furniture in, planting flowers, or hosting your first big holiday party. The trick is to not get too attached. There are a number of steps you must take before you're holding the keys in your hand, and you need to think clearly and objectively at this point so that the offer you make is a realistic one.

How much should we offer?  This can be a tough question in dynamic market conditions. There are a number of factors that will affect the offer you make. You can rely on your Coldwell Banker Chesapeake Sales Associate to help you determine a home's value relative to others in the area. Together, you should also consider the condition of the home, the demand for homes like it, how long it's been on the market and, of course, how much you really want it. Only you can decide how much to offer; we just make sure you have all the information necessary to make that difficult decision easier.

Think twice before you make a "low ball," offer. It will elicit a counteroffer from some sellers, but others may dismiss your bid outright. Too low and you risk insulting the Seller to the point they won't negotiate with you at all. In that case, if you really want the house, you will end up bidding against yourself. Your Sales Associate will advise you on ways to make your offer more attractive: for instance, a mortgage credit pre-approval and flexibility on the closing\settlement can ultimately close the sale.

Have confidence that your Coldwell Banker Chesapeake Sales Associate is a specialist, well trained and experienced in the techniques of negotiation. After helping you think through the issues to determine the best offer for you to make at the time, your Sales Associate is well qualified to negotiate on your behalf with your best interests in mind.

Written Offer with Deposit. Coldwell Banker Chesapeake Sale Associates will always encourage you to make a written offer with a deposit. Sellers take written offers more seriously than verbal offers. Talk is cheap! Your Sales Associate will strengthen your written offer by presenting it personally and describing your case to the seller in person with passionate advocacy. To show that your intentions are serious, it is customary and usual to submit the offer with a deposit. If your offer is accepted, your deposit is placed in a trust account. If not, your deposit will be returned to you.

Counteroffer. If the seller counteroffers, you may agree to that price and terms, or make your own counteroffer. Once you and the seller agree, both sides initial the final price and terms shown on the agreement of sale.

Inclusions and Exclusions. The final contract will specify the items in the home included or excluded in the sale, as well as any additional provisions either side wants to have as part of the contract. End dates for contingencies, such as for obtaining financing, are also filled in before the contract is signed.

Additional deposit. Depending upon the price of the home and the size of your down payment, the contract may specify a date when additional monies would be placed into the trust account. At this time, the mortgage company or your attorney will order a title search and insurance.

Mortgage contingency. Unless you are an all-cash buyer, as part of your sales contract, you generally will agree to obtain financing within a specified period. This period may be extended with the seller's agreement. If you are unable to secure financing, the contract becomes null and void.