Once you find the home you want to buy, the next step is to write an offer – which is not as easy as it sounds. Your offer is the first step toward negotiating a sales contract with the seller. Since this is just the beginning of negotiations, you should put yourself in the seller’s shoes and imagine his or her reaction to everything you include. Your goal is to get what you want, and imagining the seller’s reactions will help you attain that goal.
The offer is much more complicated than simply coming up with a price and saying, “This is what I’ll pay.” Because of the large dollar amounts involved, especially in today’s litigious society, both you and the seller want to build in protections and contingencies to protect your investment and limit your risk.
In an offer to purchase real estate, you include not only the price you are willing to pay, but other details of the purchase as well. This includes how you intend to finance the home, your down payment, who pays what closing costs, what inspections are performed, timetables, whether personal property is included in the purchase, terms of cancellation, any repairs you want performed, which professional services will be used, when you get physical possession of the property, and how to settle disputes should they occur.
It is certainly more involved than buying a car. And more important.
Buying a home is a major event for both the buyer and seller. It will affect your finances more than any other previous purchase or investment. The seller makes plans based on your offer that affect his finances, too. However, it is more important than just money. In the half-hour it takes to write an offer you are making decisions that affect how you live for the next several years, if not the rest of your life. The seller is going to review your offer carefully, because it also affects how he or she lives the rest of their life.
That sounds dramatic. It sounds like a cliché. Every real estate book or article you read says the same thing.
They all say it because it is true.
- Santorini Island tour
- All Inclusive Caribbean Beach Holidays
- Galapagos Islands
- Potala Palace: Former home of Dalai Lama
- Lake Baikal: Pearl of Siberia
- Lake Titicaca: Scenically sacred
- Four Reasons Why You Should Check Out Turkish Baths in Budapest
- Golfing in Fiji
- Top Reasons to Move Abroad
- Tips for keeping a neat car on a road trip
- Writing an Offer to Purchase Real Estate
- Contingencies in a Purchase Offer
- Earnest Money Deposit
- The Closing Date
- Transfer of Possession
- Writing an Offer – Safeguards Regarding the Property
- Inspections You Should Require
- Condition of the Property
- Escrow and Settlement
- Selecting Service Providers
- Real Estate Market Analysis Request
- Cheap Ways To Add More Value To Your Home
- Villa Esmeralda: Your Castle in the Algarve
- 10 Best Travel Products for 2017
- Real Estate Home Search
- Travelling With Parents – Tips
- Mainland Chinese buy property in Taiwan
- Singapore offers parking in the sky
- Travel Alone for Best Experiences
- Burma readjusts tax rate on real estate deals
- Hacienda Pinilla Announces Auction to Secure New Owners
- Sky Oasis Residences: a luxury condominium project
- A Closer Look at Gullet House, Devon