The Offer Submission Checklist

What to have ready before you submit an offer on a rental property.

• Know your number before you look. Set your max offer based on the numbers, not the listing price.
• Get proof of funds or a pre-approval letter ready. You need this before you can even submit.
• Check comps for the area, not just the one listing. Know what similar places actually sold for.
• Know the rent. Call around or check listings for what similar units actually rent for nearby. Don't trust the listing's rent estimate.
• Build in repair costs. Walk through or get photos, and pad your estimate. It's almost always more than you think.
• Decide your walk-away number before you're in a negotiation. Know it ahead of time so you don't talk yourself into a bad deal in the moment.
• Ask about the timeline. Some sellers need a fast close, some need time. Matching their timeline can win a deal even at a lower price.
• Get your inspection contingency in writing. Don't waive it unless you really know what you're doing.