6 Key Questions to Ask Before Making an Offer on a Home

Buying a home is more than just falling in love with a property. It's a major financial decision that requires strategic thinking and the right questions at the right time. Before you submit an offer, here are six crucial questions to ask to make sure you're setting yourself up for a smart and successful purchase.

1. What Is the Current Market Like (Buyer vs. Seller)?

Understanding whether you’re in a buyer’s market or a seller’s market is critical. In a buyer’s market, inventory is high and sellers are more likely to negotiate. In a seller’s market, competition is fierce and homes sell quickly—often over asking price. Your real estate agent can help you analyze current trends so you can tailor your offer accordingly.

2. Are Similar Homes Priced Higher or Lower?

A Comparative Market Analysis (CMA) will show what similar homes in the area have sold for recently. If the home you’re interested in is priced significantly higher than the comps, it may be overvalued. If it’s lower, there may be an opportunity—or a red flag. Either way, knowing the local pricing landscape gives you the power to make an informed offer.

3. How Long Has the Property Been Listed?

Time on the market can reveal a lot. A home that’s been listed for just a few days might spark a bidding war. On the other hand, if a property has been sitting for weeks or months, the seller may be more motivated—or even desperate. This information can be a useful tool for negotiating the price or requesting seller concessions.

4. What Condition Is the Home In?

Even if a home looks great at first glance, there could be hidden issues. Ask for recent inspection reports or consider making your offer subject to a home inspection. If repairs are needed, you can either negotiate the price down or ask the seller to handle them before closing. A good home inspector is worth their weight in gold.

5. Are You Financially Prepared?

Before making any offer, be crystal clear on what you can afford. Make sure your mortgage pre-approval is up to date, you understand your closing costs, and you’re comfortable with the monthly expenses tied to the home. Stretching beyond your financial limits can make your dream home a burden.

6. How Strong Is Your Desire for This Property?

Sometimes, emotion clouds judgment. Ask yourself honestly: How badly do I want this home? If it’s the perfect fit in the perfect location, you might consider going above the asking price or waiving some contingencies. If it’s just “okay,” don’t be afraid to walk away if the terms aren’t right. There will always be another home.

Final Thought:
 Making an offer is one of the most exciting parts of the home buying journey, but it’s also one of the most strategic. By asking these six questions, you’ll position yourself as a confident, informed buyer—and likely get better results.