Making an Offer
One of the best tools you can have as a buyer is a REALTOR® who can negotiate well and find the aspects most people might miss. Having that expertise in your corner can help you catch those mistakes and get the most out of your home purchase.
Entering your offer into a written contract is essential when trying to buy real estate. The written proposal that is submitted specifies your price you are offering but also all the terms and conditions of the purchase. If your offer is accepted as it stands it will become a binding sales contract. This is where an experienced REALTOR® is crucial because they can get everything you need into your offer. These purchase offers are specific and include things such as:
– Address of the property
– Sale price
– Terms (cash or subject to your obtaining mortgage for a given amount)
– Seller’s promise to provide clear title (ownership)
– Target date for closing
-Amount of earnest money deposit accompanying the offer, and whether it’s a check, cash, or promissory note
– Method by which real estate taxes, rent, fuel, water bills, and utilities are to be adjusted between buyer and seller
– Provisions about who will pay for title insurance, survey, HOA dues, taxes, etc.
– Type of deed to be given
– A provision that the buyer may take a walk-through inspection of the property just before closing.
– A time limit after which the offer will expire
-Contingencies (Loan conditions, inspection report, appraisal, survey review, title review.