Making an Offer
Tuesday Oct 11th, 2016
Making an offer is an art in which drafting the offer is required by keeping current market information. A real estate professional as a communicator offer your price to the seller or the seller’s representative on your behalf. It is possible that there are many offers for one property so the real estate agent can assist you to make a successful offer.
Firm Offer To Purchase: Firm offer shows buyers’ intention that the buyer is interested to buy without any condition.
Conditional Offer: When the offer is based on subject to the fulfillment of the request means the buyer puts conditions to be done then the property will be sold.
Acceptance Of Offer: The offer presented to the seller can be accepted or rejected. Sometimes a counter-offer is submitted after negotiations on different issues such as price, closing date or any number of variables.
Elements Of An Offer
Price: depends upon the local market conditions and information the buyer has from real estate professional. It can be different from seller’s price.
Deposit: The deposit shows good faith and will be applied against the purchase of the home when the sale closes.
Terms: It includes the financing details such as mortgage with interest rate and the total price offered.
Conditions: It is related to condition that could be subject to obtaining financing or subject to inspection.
Inclusions & Exclusions: The items that a buyer wants to include or exclude from the house like appliances or certain fixtures or decorative items etc.
Closing Date: When the transaction of the funds and all the legal documentation are finalized and the title of the property is legally transferred