 |
|
|
|
|
 |
 |
 |
 |
|
 |
|
|
|
|
|
 |
|
||
 |
 |
 |
|
 |
|
||
|
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
Buyer's Information
7 Steps to Buying a Home
The Fourth Step
We found it! What happens now?
Making an offer:
Well, we’ve found just the right home (or close to it...sometimes compromises have to be made), and are ready to make an offer. It shouldn’t be a scary thought because we will have done our homework.
The first thing we do is to check the comparable home sales for the type of property to see if the home is priced fairly, and how it relates to others similar to it that have sold recently. This CMA (comparative market analysis) tells us the price range of sold properties in the area, what the average time on the market for them has been, and what the average sales price per square foot of the recent solds are. In some cases there will not be enough that have sold. I will find out how long the property has been on the market or if there have been any price reductions during the listing period, if there have been any other offers on the property, and what the motivation of the seller is if possible.
I will also need certain information from you to fill in the contract. I will need to know the name or names you want to take title in. What type of tenancy you are going to take title in, joint tenancy, tenants in common, or single-other. How much do you plan to put down. How much earnest money to put down, this can be negotiable however, the listing agent will usually have an amount the seller is requiring. The earnest money check will be cashed upon acceptance of the offer. Then if you have any special requests pertaining to the property I will need to know them now while making the offer.
Once we have all the information we need we will fill out the contract. I will go over the contract with you so that each paragraph is understood. When we have this completed I will then present your offer to the listing agent. They will have 24 hours to respond back.
NEXT
