The real estate offer process is easy. You’ll need to gather backup documentation for your offer, hire an attorney, figure out basic terms and submit your offer. Gather and Prepare Supporting Documentation: REBNY Financial Statement You’ll need to complete and submit a REBNY Financial Statement with your offer for most listings in NYC. Coop apartment listing agents will absolutely require this personal financial statement for an offer to be considered, and even condo listing agents will ask for it as well. Mortgage Pre-Approval Letter You’ll need a loan pre-approval letter from your mortgage broker or bank if you plan on financing your purchase. Make sure you submit a pre-approval vs pre-qualification letter as the former is much more credible. Proof of Funds You’ll need to provide proof of funds if you are purchasing all cash since you won’t be providing a mortgage pre-approval letter. A bank account statement or a brokerage account statement showing sufficient funds to purchase the property will do. You should demonstrate that you have enough funds to not just cover the purchase price, but also closing costs and any post-closing liquidity requirements. Short Biography It’s nice to provide the seller with some idea of who you are. As a result, most buyers include a paragraph or two about themselves with their offer. Feel free to have the biography be focused on your educational background and professional life and career. Letter to the Seller While not necessary, it’s certainly a nice move to include and may push a seller to choose you over another bidder. Hire a Real Estate Attorney You’ll want to provide your real estate attorney’s contact information if you are buying property in a state like New York where lawyers are required for contracts. Skip this step if you are buying property in a state where forms are standardized and simpler, and lawyers aren’t typically used for transactions. Make sure you hire a lawyer who specializes in real estate transactions, especially if you are buying a home in a more unique market like NYC. Once you’ve hired an attorney, make sure to include their complete contact information in your offer email. Submit Your Offer Once you’ve gathered all of your supporting documentation, it’s time to submit your offer. Your buyer’s agent will gather everything in one email, and include your offer price, your anticipated down payment amount, your preferred closing date, any contingencies, and any non-standard inclusions or exclusions. Remember that offers without contingencies will be stronger and considered more favorably by sellers. With that said, it’s fairly common to see a financing contingency if you will be purchasing with a mortgage. If you’re buying free-standing property such as a house or a townhouse, then it’s fairly standard to ask for a home inspection as well. If you need to sell before you can buy, you may wish to ask for a sale or Hubbard contingency. Don’t worry about inclusions or exclusions unless you’ve negotiated with the seller for a specific item to be included or not. The way inclusions typically work by default is that if you cut off the roof of the home and flip the home upside down, everything that doesn’t fall out because it’s attached to the property comes with the sale. Your buyer’s agent will ask for the listing to provide written confirmation of the receipt of your offer. After the offer has been received, there’s no set timeline for the seller’s side to respond to you, if they do at all.