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The Offer
Now that you've found your dream home, it's time to make an offer! Your
real estate agent will assist you on creating an offer that will have
the best chance of being accepted and will create a written contract with
your offer that meets all the local and national legal requirements. This
document details what needs to be done by both parties to execute the
transaction.
Remember the legalities of this phase are very important. If you have
any questions or concerns, be certain to address them right away. Making
an offer to buy a home entails many factors. Discuss the following factors
prior to putting the offer on the table:
- Price you are offering
- Amount of earnest money
- Details of the sale
- Appliances and furnishings that will stay with the property
- Proposed closing date
- Proposed move in date
- Details of financing
- Down payment
- Inspection rights and possible repair allowances
- Contingencies
- List of fees and who will pay them
- How long the offer is valid
The seller will either accept the offer as presented, or make a counter
offer and ask you to resubmit a proposal. When all the parties involved
have agreed upon the details, initialed any revisions and signed the final
agreement then an offer becomes a contract.
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