So you've weeded out all the "maybe" houses and found "the one." The next logical step is to make an offer. This is where you put pen to paper and specify how much you're willing to pay for the home, and under what conditions you will buy (i.e. repairs requested, move-in date, etc.).

A written offer usually includes the following:

* Complete legal description of the property

* Amount of earnest money

* Down payment and financing details

* Proposed move-in date and closing date

* Price you are offering

Making a Smart Offer
When calculating your offer, you consider several factors: what homes sell for in the area, the home's condition, how long it's been on the market, financing terms, and the seller's situation. By this time, you should also have a good idea how much you can afford to pay each month.

Work closely with your agent when making your offer. Its a critical part of the process and not something you want to rush through or handle on your own.

On the other hand, if youre in a hot real estate market where houses are selling fast, youll want to get your offer to the seller as soon as possible. Your agents expertise will prove invaluable in such circumstances -- he or she will help you put your offer together quickly and accurately!

Before making your offer, compare the house to recent sales in the area. Your agent should have this information readily available. If the sellers asking price is above recent sale prices in the area, you should bid lower than their asking price, citing this difference as your reason.

Lastly, be prepared to negotiate and have a plan for doing so. What will you do if the seller turns down your initial offer? What happens if there are offers from multiple buyers and a bidding war develops? Consider these possibilities before making your initial offer. Have a plan in place for each scenario.

And when in doubt, follow your agents advice!