Beat Others To The Best Listings
How To Save Thousands When Buying
OFFER TO PURCHASE
When we find a home that meets your requirements, you should be ready to make a competitive of immediately. It never fails that once someone is interested in a property, several people are interested in that property. In negotiating the purchase of your new home, the initial step will be to instruct Rick to make an Offer to Purchase. This offer will be in writing and accompanied by an earnest money check to show good faith (usually in the amount of $1,000 per hundred thousand). The offer will include:
- The amount you are willing to pay.
- Financing Terms.
- Any personally specifically included or excluded.
- Closing and occupancy date.
- Other contingencies, including home sale or inspections.
- Any other special terms or conditions.
The offer will be written on a standard contract form. If the initial offer is not accepted by the Seller, further negotiations generally reach terms agreeable to both Buyer and Seller. When the Buyer and Seller agree on terms, the Buyer immediately applies for financing (if not already pre-approved) and arranges for a building inspection.
EARNEST MONEY DEPOSIT
At the time a written offer on a property is initiated, you will be required to make a deposit in the form of a personal check, cashier’s check or cash. Rick will help you determine the amount. The money will accompany the Offer to Purchase and will be deposited in an escrow account of the listing real estate company and will not be turned over to the Seller. It will be applied towards your closing costs. The money represents your sincerity in the attempt to purchase and is fully refundable if the offer is not accepted or if your loan is not approved or if some condition of the contract is not met by the Seller. If however, the contract is accepted and the Seller meets all the conditions in the contract, and you decide for some reason to back out of the contract, then your earnest money can be forfeited to the Seller.
