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We'll help you make an offer
Once you find the home you like, your agent will help you make an offer by submitting a valid sales contract which provides the details of your offer. RE/MAX Associates Realty suggests you keep in mind the following points:
- Prior to submitting an offer, contact your lending institution and get pre-qualified (pre-approved) for a mortgage loan. This streamlines the entire purchase process.
- Any sales contract needs to be accompanied by an earnest money deposit. When the sale goes through, this deposit will be credited toward the expenses you pay at closing. If you do not close the sale, you may forfeit your deposit.
- You may place contingencies in the contract that allow you to get out of the agreement in case you cannot get affordable financing, sell your current home, or if necessary repairs to the home are too extensive. You can also stipulate an "option period" in your contract.
- If market conditions favor sellers (numerous quick sales, rising prices), you will probably have to offer an amount close to the asking price for the home. Otherwise, another buyer may outbid you. If, however, conditions favor buyers (homes stay on the market a long time, prices flat or falling), you may want to make an offer lower than the asking price and negotiate aggressively.
- Your original offer might not be accepted because the seller does not accept every detail. The seller may make a counter-offer with modifications of your offer (most often with a higher price). You may then want to provide another counteroffer. This process may go on until one party rejects or accepts the offer.
- The sales contract is signed by both seller and buyer. A closing is set for sometime in the future. In the meantime, you will need to arrange financing and complete all inspections of the home.
- With a signed sales contract, you are ready to start the loan process (unless you are paying cash). For up-to-the-minute information on mortgage rates and services, please click here.
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