How do I make an offer on a house in Virginia? What goes in it and what to decide first

Making an offer on a Virginia house means writing a contract, not just naming a number. The price gets the attention, but the terms around it decide whether the deal is smooth, expensive or likely to fall apart.

Most of the decisions below happen before you ever see the paperwork. That is where a buyer can save money and worry.

What actually goes into an offer?

An offer is a proposed purchase contract. Beyond the price, it spells out your earnest money deposit, your financing, the inspection and other contingencies, the closing date and which costs the seller will cover.

Your agent typically fills in standard forms, and you review every line. Don’t sign something you can’t explain back in your own words.

The seller will also read what isn’t a number. A clean offer with a pre-approval letter, a reasonable closing date and a short list of contingencies reads as lower risk than a slightly higher price with a pile of conditions.

How do I decide on a price?

Start with what similar homes actually sold for, not what they were listed for. Your agent can pull closed sales for comparable homes nearby and adjust for size, condition and updates.

Then look at the listing itself. How long has it been on the market? Has the price changed? A new listing in good condition is a different negotiation than one that has sat for weeks.

My read: the asking price is the seller’s opening position, and the comparables are your evidence. If the two disagree, the comparables should win.

What are contingencies, and which should I keep?

Contingencies are conditions that let you step back from the contract if something goes wrong. The common ones cover the home inspection, the appraisal, your financing and, sometimes, the sale of your current home.

Each one protects you and gives the seller a reason to hesitate, so there is a trade. Our posts on how an inspection contingency works and appraisal gaps go deeper on two of them.

Waiving protections to look stronger can cost real money if the inspection or appraisal turns up a problem. Talk through that risk with your agent and your lender before deciding.

How should I think about earnest money and the closing date?

Earnest money is a deposit held in escrow and normally applied toward your costs at closing. The amount is negotiable, and what happens to it if you cancel depends on the contract terms and the contingencies you kept. Read that section closely, and ask a Virginia real estate attorney if you have a specific legal question.

The closing date is a quiet bargaining tool. A seller who needs time to find their next home may value a flexible date and a rent-back more than a few extra dollars. Our post on rent-backs explains how that works.

What should I do before I submit?

Four things, in order:

1. Get pre-approved so your budget is real.
2. See the comparable sales for the home you want.
3. Decide which contingencies you will not give up.
4. Set a response deadline so the offer doesn’t sit open.

Once the seller replies, you may get a counteroffer rather than a yes. Our counteroffer guide explains how that back-and-forth works from the seller’s side, which helps you read it.

What should I do next?

If you’ve found a house and aren’t sure how to structure the offer, we can walk through the comparable sales and the terms with you before you write anything. Start with our buyer page or reach the Glen Allen office, and meet Daniel Keeton, who writes these guides.

This article is general information, not legal or lending advice. For questions about your contract, talk to a Virginia real estate attorney or your lender.