Relocation and First-Time Buyers
How do I make an offer on my first home?
By Steve Lockhart
The short answer
The offer is where the search becomes a purchase, and it has two parts: what you pay and the terms that protect you. The price comes from what similar homes have actually sold for, not from the listing price and not from your feelings about the kitchen.
Full answer
The offer is where the search becomes a purchase, and it has two parts: what you pay and the terms that protect you. The price comes from what similar homes have actually sold for, not from the listing price and not from your feelings about the kitchen.
The terms matter as much as the price. Your agent writes the financing contingency, the inspection contingency, the appraisal contingency, the earnest money amount, typically around 1 percent in Las Vegas, and the closing timeline the sellers care about. Every line protects or exposes you.
The sellers respond in one of three ways: accept, counter, or reject. Most transactions involve at least one counter, and the negotiation is about the whole package, not just the price: the closing date, the contingencies, and the small terms can matter more to a seller than a thousand dollars.
Keep your financing honest through the offer. Your pre-approval is in hand, your down payment and closing costs are planned, and the monthly payment has been tested, so the offer you write is one you can actually close. That is what makes it credible.
There is a rhythm to strong offers: priced to the market, protected by reasonable contingencies, and delivered without drama. Your agent manages the back and forth, and your job is to keep the goal in view, a home you can afford and protect for the long run.
Go a little deeper
Frequently asked
Questions people often follow up on
How much earnest money should I offer?
Around 1 percent of the purchase price is the common benchmark in Las Vegas, with 1 to 3 percent typical depending on the market and the property. The deposit sits in escrow and credits toward your purchase at closing; it is a sign of seriousness, not an extra cost.
What contingencies should I include?
The standard protection set is financing, inspection, and appraisal. Adding contingencies can make an offer less attractive in a competitive market, so talk through which ones to keep firm and which to soften, but never sign away your protection without understanding the risk.
Can I negotiate after the offer is accepted?
The negotiation continues through escrow: inspection findings, appraisal results, and repair requests all reopen the table. The contract sets the rules and deadlines, so the follow-on negotiation is structured, not open-ended.
The Lockhart Method
The Lockhart Method
Your Home | My Strategy | Proven Results
My strategy: write the offer from the comparable sales and the costs you have already verified, and keep the terms that protect you intact. A clean, credible offer wins more often than a desperate one, and it protects you whether the answer is yes or no.
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