Make sure you're ready before you submit
Offer Readiness Checklist
Check whether you have everything in place before submitting an offer — finances, team, and key decisions. Not strategy advice. Just preparation.
TL;DR
Before you write an offer, verify that your finances, team, and key decisions are actually in place — not just approximately in place.
What this covers
- Financial preparation: pre-approval, down payment, earnest money, closing costs
- Team readiness: your agent, lender, and inspection approach
- Decision clarity: price ceiling, closing timeline, appraisal gap plan, contingency decision
- Condo-specific items
Greater Seattle offer notes
- Seller pre-inspection: some sellers provide a pre-inspection report — review it before writing, not after.
- Form 17: Washington State seller disclosure — confirm your agent has reviewed it with you.
- HOA resale certificate: request it as part of due diligence, not after mutual acceptance.
- RSU or bonus income: if your pre-approval includes RSU or bonus income, confirm your lender has verified the documentation.
- Appraisal gap: in competitive Greater Seattle markets, having a realistic gap plan — and the cash to execute it — matters before you write, not during negotiation.
Go through each item before submitting an offer. This covers preparation — not strategy. For strategy questions, talk to your agent.
Financial Preparation
- Pre-approval letter in handFrom a lender who has verified your income, assets, and credit — not just a pre-qualification.
- Down payment funds are liquid and verifiedIn a checking or savings account — not in stocks, retirement accounts, or assets that require liquidation.
- Earnest money source is identifiedTypically 1–3% of offer price. Due within 2 business days of mutual acceptance. Must be immediately accessible.
- Closing cost cash is availableEstimate 2–3% of purchase price on top of your down payment. Includes lender fees, title, escrow, and prepaid items.
Team & Process
- Working with an agent who represents youYou’ve signed a buyer brokerage agreement and confirmed they represent your interests — not the seller’s.
- Lender is reachable and readyYou’ve spoken to your lender within the last 7 days and they can move quickly on your timeline.
- Inspection approach is decidedWhether to include an inspection contingency or not is a decision to make before submitting — not after. Discuss with your agent.
Decision Clarity
- Price ceiling is setThe maximum you would pay for this property and still feel okay about. Decide before you’re in a competitive situation.
- Closing timeline is understoodDo you need 30 days? 45? 60? Does it align with your lease end or other constraints? Communicate this to your agent.
- Appraisal gap scenario is discussedIf the home appraises below your offer price, what will you do? Worth talking through with your agent before submitting.
- Financing contingency decision is madeYou understand the difference between having a financing contingency and waiving one, and you’ve discussed it with your agent.
- •Pre-approval letter in hand
- •Down payment funds are liquid and verified
- •Earnest money source is identified
- •Closing cost cash is available
- •Working with an agent who represents you
- •Lender is reachable and ready
- •Inspection approach is decided
- •Price ceiling is set
- •Closing timeline is understood
- •Appraisal gap scenario is discussed
- •Financing contingency decision is made
Questions to Ask Your Agent or Lender
This checklist doesn’t cover offer terms or contingency strategy — that conversation belongs with your agent and lender.
Common questions
What should I confirm before making an offer in Seattle?▾
Pre-approval is current, down payment and earnest money are liquid, your agent has reviewed Form 17 with you, you have decided on your inspection contingency approach, and you have a realistic price ceiling — not just a number you are comfortable saying.
What does appraisal gap mean, and when does it matter?▾
If you offer $1.2M and the home appraises at $1.15M, your lender will only finance based on $1.15M. You would need to cover the $50K difference in cash. In competitive Greater Seattle markets, having a realistic appraisal gap plan before writing is standard.
Should I decide my inspection contingency before writing the offer?▾
Yes. Changing your inspection contingency after submitting — or after the seller counters — puts you in a weaker negotiating position. Talk through the options with your agent before writing.
How quickly is earnest money due after mutual acceptance in Washington?▾
Typically 2 business days after mutual acceptance. The funds need to be immediately accessible — not in stocks, retirement accounts, or other assets that require liquidation time.
Further Reading
- Offer Review Date Strategy in Greater Seattle: What Buyers Need to Know Before the Deadline
- Earnest Money in Washington State: What Buyers Should Understand Before Making an Offer
- Escalation Clause in Greater Seattle: When It Helps and When It Backfires
- Should You Waive Inspection in Greater Seattle? A Buyer's Risk Framework
Writing an offer without a buyer's agent?
Talk to Vera about whether the process, terms, and timing make sense for this listing.
Vera Huang is a Washington licensed broker with WeLakeside. She built SeattleHomeWay for analytical Greater Seattle buyers who want to understand the numbers, risks, and tradeoffs before making an offer.