Prop Hound
The Offer Submission Checklist
What to have ready before you submit an offer on a rental property.
- Set my max offer based on the real numbers, not the list price.
- Have proof of funds or a pre-approval letter ready to attach.
- Pulled comps for the area, not just this one listing.
- Confirmed real rent for similar units nearby, not the listing's own estimate.
- Built a repair-cost estimate into my number, based on a walkthrough or photos.
- Decided my walk-away number before I'm in a negotiation.
- Asked the seller's agent about their preferred timeline.
- Got my inspection contingency in writing.
How to use this checklist
Work through it top to bottom for the specific property or market you’re looking at, and don’t mark an item done until you’ve confirmed it yourself or heard it from someone you trust. If an item doesn’t apply, write down why, since the reason is often the thing you want to remember when you compare it against the next property. Keep your answers somewhere you can find them, such as a note per property. It is general information, not tax, legal or financial advice, so check anything high-stakes with a qualified professional. You can also print this page or get the PDF in the First-Time Investor Toolkit.
More rental investing checklists
- The Market Selection Checklist
- Financing Options Rundown
- Tenant-Friendly vs. Landlord-Friendly States
- The Out-of-State Investing Checklist
- Canadians Investing in US Property Checklist
- The Deal Analysis Checklist
- The Property Walkthrough Checklist
- Working With an Inspector
- Buying an Occupied Rental Checklist
- Closing Day Checklist
This checklist covers one step. We check new listings every night.
Prop Hound screens new rental listings in your market against your own numbers, so you only see the ones worth running a checklist like this on.