Once you have found the home you wish to purchase, you will need to determine how to make an offer for the home. It is important to remember that the more competition there is for the home, the higher the offer should be sometimes even exceeding the asking price.
Remember, be realistic. Make a realistic offer that the other party will accept. If you want to make an offer, make a fair offer. Try not to make the seller and the listing agent upset by a low ball offer….or you may not receive a counter offer…
How to Determine Your Offer Price
We will provide you with an estimate of the current market value of the property you like. Notice the difference between the listed price and the sales price of the comparable properties. Then, make you offer around that percentage which may be between 1 to 3% of the listed price.
The purchase agreement or contract constitutes your offer to buy and, once accepted by the seller, becomes a valid, legal contract. When you want to write an offer, you should be prepared to write a check for an earnest money deposit on the property. This is to guarantee that your intention is to purchase the property.
The offer can be accepted, rejected, or the seller has the option to make you a counter offer. This is when we will consult with you and assist in negotiating the terms of the contract.
The step-by-step contract procedure for most single-family home purchases is standard. The purchase agreement used is a standard document approved by the California Association of Realtors, written by attorneys, to protect all parties involved in a real estate transaction.
For this reason, it is important to understand what is written on the contract offer. We will provide you with a purchase contract for you to read over during your real estate previewing stage of homes, condos or income properties.
We will go over the purchase contract with you to help you understand it and answer any questions you may have.
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