How To Make An Offer

In the U.S. all offers need to be made in writing. That is, once you let your agent know how much you're offering, they will prepare documentation for you to sign. This will then be presented to the other side.

You will also need to decide on the closing date of the sale, which will also be displayed on the legal documentation. "Closing" is the same thing as completion in the UK - it is the day that full funds are transferred to the vendors' solicitor and final contracts are signed, and keys can be released to the new owner.

I've been told that closing of 10, 15 or 30 days is most common. The latter is usual if you're obtaining a mortgage, and need time to obtain sufficient funds from your lender.

Be aware that you must stick to your chosen closing date. Having worked in property in the UK, I was very used to exchange and completion dates frequently being changed or pushed back, often without consequence to either party. In the US, if you cannot close on your previously chosen date, it is my understanding that the vendor may have grounds for legal action.

Also be aware that, should your offer be accepted, you will have to pay a deposit that will be held in escrow until closing. I was required to pay $1,000 - less that 1% of my offer amount.

So make your offer and declare your chosen date for closing. Let your agent prepare the documentation for you to sign and submit to the vendor's agent. Then cross your fingers!

Top Tip: You don't need to be in the U.S. for this step. My agent prepared all the documentation and emailed it to me. I printed it off, signed it, then scanned and emailed it back. (Or faxing it would be the same as the last two steps.)