Buying
Making an offer on an Idaho home
An offer is the written proposal you send the seller: price, deadlines, and the deposit that shows you mean it. Your purchase contract controls the details.
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What goes into a written offer
Idaho law requires offers to purchase to be in writing, and it requires every written offer to be presented to the seller up until closing. You should receive a copy of your signed offer as a receipt. Read the chapter on the Idaho Legislature's site if you want the statutory wording.
A typical offer covers more than price. Walk the list with your local expert before you sign:
- Price you are offering, and how it compares with the list price on that home.
- Earnest money: the amount, who holds it, and when it is due.
- Financing, including the loan type and your preapproval. See getting preapproved.
- Contingencies for inspection, appraisal, and financing, with deadlines. See inspections and appraisals.
- Closing date and what stays with the home.
- Seller credits, if you are asking for any. Closing costs explains how those lines usually work.
Earnest money: where it goes
Earnest money is a good-faith deposit with your offer. It is not an extra fee on top of the price. At closing it is often credited toward the cash you bring, but your contract is what says so.
If the real estate professional or title company holding your deposit receives it, Idaho law requires it to go into a real estate trust account, generally by the next banking day, unless signed written instructions say otherwise. That rule is Idaho Code 54-2045. Your contract may name a title or escrow company as the holder instead. Read that line before you wire or drop off a check.
Ask what is customary for the home you are offering on, then decide what you are willing to put down.
Contingencies that protect you
A contingency is a condition that lets you pause or step back if a specific thing does not work out, inside the deadline in the contract. Three that buyers commonly discuss:
- Inspection. Time to hire an inspector and respond to what they find.
- Appraisal. What happens if the lender's appraisal comes in below the price.
- Financing. What happens if the loan is not approved as described in the offer.
None of these is automatic. If the offer does not include them, do not assume you have them. Inspections and appraisals covers what each check does and what your choices are afterward.
Counteroffers and deadlines
A counteroffer is the seller's written response that changes something you proposed: price, dates, repairs, or what is included. It is a new offer. You can accept it, let it lapse, or counter again. While you are going back and forth, keep the deadlines in one place. A missed date can matter even if everyone still wants the sale.
The seller's side is required to present every written offer up until closing. That does not mean the seller must accept any of them. It means a written offer should not sit unseen.
If the sale falls apart
What happens to the deposit depends on the purchase contract and on why the sale stopped. If you cancel inside a contingency, the contract usually says the deposit comes back. If you walk away outside those terms, the seller may have a claim to it. Read your form. This is not a prediction about your deal.
When more than one party demands the money, Idaho law requires whoever holds the deposit to notify each party in writing and keep them informed. That holder may disburse the funds the way the signed agreement says, or hold them until a court decides. That is Idaho Code 54-2047. If you are unsure, ask your local expert, and ask an attorney if you want legal advice.
Related guides
| Guide | Why it helps |
|---|---|
| Mortgage preapproval in Idaho | The letter lenders expect to see with an offer |
| Inspections and appraisals | What those contingencies actually check |
| Idaho closing costs | How the deposit is credited, and who pays which lines |
| First-time home buyer in Idaho | Where the offer sits in the full first-home path |
| Buying and selling at the same time | If you still own a home while you write this offer |
| All guides | Every BrowseIdaho guide in one place |
FAQ
- What is earnest money when buying a home in Idaho?
- It is a good-faith deposit that goes with your written offer. It is often credited toward your cash to close, if the contract says so. Ask what is customary for the home you are offering on.
- Where does my earnest money go after my offer is accepted?
- If the real estate professional or title company holding your deposit receives it, Idaho law requires a deposit into a real estate trust account, generally by the next banking day, unless signed written instructions say otherwise. Your contract may name a title company instead.
- What happens to earnest money if the sale falls through?
- It depends on your purchase contract. If both sides claim the money, Idaho law requires whoever is holding it to notify each party in writing and either disburse it under the signed agreement or hold it until a court decides.
- What contingencies should I include in my offer?
- Buyers commonly discuss inspection, appraisal, and financing contingencies. They protect you only if they are written into the offer, with deadlines. Ask your local expert what this contract includes.
- What is a counteroffer?
- It is a written response that changes the terms of an offer, such as price or dates. A counteroffer is a new offer. You can accept it, decline it, or counter again, inside the deadline.
- Does the seller see every offer?
- Idaho law requires every written offer to be presented to the seller, up until closing. The seller does not have to accept every offer.