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Tips for making an Offer on a House during Covid

By Jamie Richardson | September 13, 2021

The pandemic has ripped through almost every sector and business. The real estate market too has seen damage. With Covid 19 having dampened the home buyers’ market, buying a home this pandemic needs smart planning. Yes, there is low inventory on the market and more of a seller inclined scenario persists. Then again, a few clever negotiating tactics and right moves can make you seal the offer on a dream home in 2021.

You need to be on your feet to make an offer as soon as you find the best deal. Procrastination will be your biggest enemy when it comes to shopping real estate, in pandemic season. Perhaps you might simply have to check out listed homes virtually. However, instead of fussing over such limitations, use the time to set your personal finances straight.

Decide on Requirements

  • While every home appears pretty, the idea to stick to while shopping for one is to stick to your requirements. Make sure you have an offer playing in your head when seeing every property. 
  • Simply compare the offer you have in mind to the value you get from the property. With this, you stick to your actual requirements for a house and never go overboard while making an offer.

Make an Offer based on Approved Mortgage

  • With Covid playing its cards carefully, it will be sensible to shop around for the mortgage limit before shopping for a home. Get an estimate from your bank about the credit range you are approved for. 
  • Pre approving a mortgage actually helps you make an offer with more confidence. There have been instances of potential buyers pulling out even after making an offer thanks to mortgage limit rejections. It is safest for your finances to guide your offer and not the other way round.

Understand the inner details

  • Before you make a final offer on a home for sale, check the requirements of the mortgage involved. With stiff competition in the housing niche, mortgage approvals are not as easy as a couple of years ago. 
  • Understand the credit score requisites, your qualifier criteria and the kind of loan that suits your requirements. Once you are on a comfortable footing around the ‘how and what’ of the loan, you can actually make an offer dealers cannot refuse.

Consider Add-on Expenditures

  • Always keep room for add-on expenses that come along with buying a new home. From home inspection costs to HVAC systems and even home improvements—there can be a lot on your plate. 
  • Evaluate your financial preparedness for certain emergencies too and then go on to make an offer. Remember, buying a home must be a comfortable experience and not something that stresses you out!

Compare and Consider

  • You will be better poised to make an offer when you yourself compare mortgage approval offers from lenders. There can be differences in interest rates across different banks. Therefore, you get access to better buying power when you shop right for a mortgage.
  • Once you compare offers and then choose the financier, you can go ahead and put your own offer on a house.

Bid Goodbye to Bidding

While the real estate buyers market is competitive, you can avoid too much stress by avoiding bidding wars.  It is practical to make your best offer at the outset. Bidding could make you go overboard from your limit. Remember that losing out on a bid will put your earnest money check into the drain.


It is definitely the right time to pitch in for a home purchase. Interest rates for mortgages are at record lows and the demand for new homes is not in excess either. If you get hands on a home that you consider right, make the offer now!

Jamie is a 5-year freelance writer who enjoys real estate. He is currently a Realty Biz News Contributor.
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