Once you’ve narrowed down your list and have a clear favorite, we’re ready to make an offer on a home. Ensure you have all the funds needed for your Earnest Deposits, Inspections, and Appraisal ready to go!
Make an Offer
After you’ve found “the one,” I’ll evaluate the market and draft a well-thought-out offer that also protects your interests.
What should I include with my offer?
Your offer will be written using the most recent standard-purchase offer forms that comply with all state and local laws.
Your offer will include:
The price
Terms – such as a request for closing cost assistance or that the offer is subject to your obtaining financing and a home inspection or a home sale
Closing date— – The Date for Settlement , time to get inspections done and the mortgage company to get through their process.
Earnest Money Deposit – I can advise you about how big your deposit should be based on local customs and current conditions, Usualy 3-5% .
Time limit for the offer – How long the seller has to get back to us with their decision.
Home sale contingency if you are selling in order to buy.
Lease review if you are buying an investment property.
Condo/HOA document review, if you are buying in a condominium or planned community.
What are the most common contingencies?
Financing- Unless you’re paying cash, it’s typical to write your offer with a contingency clause that lets you off the hook (and get your deposits back) if you can’t finalize your mortgage within a certain number of days or if the property doesn’t appraise for the sales price. Even though you have a pre-approval for a loan, it’s smart to protect yourself.
Home inspection- Your offer can be made dependent on a satisfactory home inspection report within a certain number of days. This protects you if the inspection uncovers expensive & necessary repairs that you can’t handle or the seller won’t address.
What happens if I face multiple offers?
In a hot housing market with few homes to choose from, you may find yourself competing against other buyers. If that’s the case, I will work on your behalf, strategizing for your offer to be accepted. With access to real-time market data, I’ll know how to position your offer best.
If there’s more than one on the table, the seller can:
Accept the best offer
Counter all the offers to get a better price and terms
Counter one offer that’s close to what they want
Working to find out what’s important to the seller, such as a specific moving date, and to discuss possibly waiving contingencies, adjusting your price, or writing a “love letter” about the house are all options we can consider when facing multiple offers.
What is a counteroffer?
The seller can accept your offer as is, or they can make a counteroffer with an adjustment to your terms. You can accept or reject the counteroffer and make your own counteroffer. The contract is final once you and the seller have agreed to all terms.
I’ll work on your behalf to negotiate the terms of your purchase that make you feel protected and excited to move forward.