How to Make an Offer on a House: The Asymmetry Buyers Miss
Go Back To Previous PageMaking an offer on a house in NYC starts with pricing it based on recent comparable sales, not the asking price. A strong offer pairs that number with a clean pre-approval and a deposit, commonly around 10%. One asymmetry catches buyers off guard: the seller can still shop your signed contract until they countersign.
We represent NYC buyers, and that’s only half the job. How you present it and understanding what actually protects you at each stage matter just as much.
The number comps support, not the number you wish were true, is where every offer should start.
How much to offer on a house, and where to start
Your offer price should come from recent closed sales in the building or comparable ones nearby, adjusted for condition and floor. Asking price is a seller’s opening position, not a market fact, and treating it as one leaves you either overpaying or underbidding.
Once you’ve got a real number, our pillar guide to negotiating in NYC covers the tools that shape it further. That includes an escalation clause in a bidding war, or a straightforward bid on a quieter listing.
Comparative market analysis, the tool that actually sets your number
What recently sold, not what’s currently asking, is what a comparative market analysis is built on. Your agent pulls closed sales in the building and similar nearby buildings, then adjusts for differences in condition, floor, and layout. That process arrives at a realistic price range for the unit you’re bidding on.
This is the single most useful number in the entire process. An offer anchored to real comps reads as informed; one that isn’t reads as a guess, and sellers notice the difference. U.S. Bank’s own guide to making an offer covers the same comps-first logic from the lender’s side of the table.
| Pricing approach | What it’s based on | How it reads to a seller |
|---|---|---|
| Asking price only | The seller’s opening position | Uninformed, easy to counter |
| Comparative market analysis | Recent closed sales, adjusted | Informed, harder to dismiss |
| A guess or a round number | Gut feeling | A weak opening bid |
What else goes into a strong offer, beyond price
The closing date and the contingencies you’re not asking for often matter as much as the number itself. A flexible closing date, a clean pre-approval, and a realistic deposit all signal seriousness to a seller comparing bids.
The specific documents your offer needs — the REBNY Financial Statement, pre-approval letter, and contingency requests — are covered in full in our offer form guide. One unrelated thing worth knowing: an “offering plan” is a completely different document, the disclosure filing for a co-op or new development, not something you draft as part of your offer.
Should I write a letter to the seller?
A paragraph that makes a similar bid feel different is what a good personal letter does. It won’t fix a weak price. But between two comparable offers, a genuine, specific letter can be the deciding factor, especially with an owner-occupant seller who’s emotionally attached to the place.
Keep it short and honest. A generic template reads as exactly that, and sellers and their agents can tell.
Can a seller reject a signed offer?
Yes, right up until they’ve signed it too, is the uncomfortable truth most buyers don’t expect. You’re bound to the deal once you’ve signed the contract and sent your deposit. The seller isn’t bound until they countersign, and until that happens, they’re free to shop your signed contract to other buyers.
If a better offer comes in during that window, the seller can accept it and simply decline to countersign yours. Our guide to a seller backing out covers this in more depth, including what recourse, if any, a buyer actually has.
What we build into every client’s offer
A number and a story, not just a number, is how we approach every offer we help put together. The pricing has to be defensible against real comps. The presentation, the letter, the timeline, the documentation are what make a defensible number actually win.
As Georges puts it, “it’s all about the numbers and the execution,” and this is where both halves of that show up at once. On average, our commission rebate returns roughly $22,000 at closing, which some clients apply directly to strengthening their offer deposit. Run your full numbers on the closing cost calculators before you settle on a price.
Common questions
How much should I offer on a house in NYC? Start from recent comparable closed sales in the building or similar nearby buildings, adjusted for condition and floor, not the asking price.
Should I write a personal letter to the seller? It can help when your offer is comparable to another buyer’s, especially with an owner-occupant seller. It won’t fix a weak price on its own.
Can a seller reject my signed offer? Yes. You’re bound once you sign and deposit, but the seller isn’t bound until they countersign, and they can accept a better offer in the meantime.
What is a comparative market analysis? An agent’s pricing tool built on recently closed comparable sales, not current asking prices. It estimates a realistic value for the unit you’re bidding on.
What documents do I need to make an offer in NYC? A REBNY Financial Statement, a pre-approval letter or proof of funds, and any contingencies you’re requesting. Our offer form guide covers the full list.
Nicole Fishman Benoliel co-founded NestApple in 2017. She's a lawyer admitted to the New York bar - her law degree is from La Escuela Libre de Derecho in Costa Rica, with further study at IE Business School in Madrid and an LLM from Fordham in New York. She does not act in a legal capacity at NestApple; every client is referred to an attorney who handles real estate deals full time.
