Home Buying Tips

Top agents answer top questions about buying a home

Reading Time — 3 minutes

February 1, 2020

By Joshua Carpentier

Reading Time — 3 minutes

February 1, 2020

How can I get my offer accepted and get a good deal?

The first thing is to decide what will make this a good deal for you. Is it the seller helping with closing costs? A lower contract price? A flexible close date? We can help you figure all that out in a way the makes sense.

Then, we’ll contact the listing agent to see what the Seller is looking for. After researching the home and its history, we’d come up with an offer plan together, then go fight for what you want. So you can get the home you want at the deal that works best for you.

Danny Emmett, Opendoor Partner Agent

Can I back out of an offer if I find problems with the home?

Yes, you can. Buyers can back out of an offer and get their earnest deposit refunded — so long as the listing agent receives the Notice of Cancellation within the “due diligence period.”

And we get it. You may see a place and instantly fall in love. But sometimes, even the nicest-looking homes may have something you can’t easily see. That’s why it’s important to have it inspected by a qualified professional before making an offer. It’s best to have it done in the first 10 days after you’ve accepted the contract, so you and your agent have time to review the inspection report.

Dan Popa, Opendoor Partner Agent

What are the steps to buying a home?

Get a preapproval letter from a lender. And do it before you start looking at homes. You’ll know what you can realistically afford so when you find the home you want, it’ll help you to get it quicker.
Make a list of what’s important to you. Is it the size of the home? Location? A giant backyard? Once you figure it out, then start looking.
Start an offer. Find your next home? Use the Opendoor app to make an offer on it. The buyer’s agent will submit a contract for the seller to consider. There may be a little back and forth as you negotiate with the seller, but that’s normal.
Order an inspection. Once you and the seller agree, it’s time to get the home professionally inspected. Then review the inspection report with your agent to make sure everything looks good.
Wrap it up. Regularly check in with your lender and agent to finish up anything they need. When closing day arrives, you’ll sign your name more times than you can count. But then, you get the keys to your brand new home.

Julia Kappel, Opendoor Partner Agent

What should I look for to find a good lender?

The interest rate isn’t the only thing you should look for when choosing a lender. Other factors matter, too — like fees, credits, and knowledge of various lending programs. And excellent customer service is key. So be sure to look for all these before choosing a lender. It’ll help you have a successful, trouble-free transaction.

Mary Ellen Holleran, Opendoor Partner Agent

My offer got accepted! Now what?

Here are the 3 things you should do right after your offer gets accepted:

Contact your lender. So you can get the ball rolling on your loan approval.
Wire your deposit into escrow. The escrow officer will reach out to help.
Schedule a general home inspection. You should get a termite inspection done, too.

If you find you have questions or need help with any of these, chat with your agent. They’re always happy to help.