We've gone through the first 4 steps of the home buying process and now find ourselves at number 5: submitting an offer. I'm sure you'll have many questions. For example what should I offer? Should I offer less than the asking price but then risk rejection or the seller choosing a different offer. When markets are competitive sometimes it's prudent to make an offer higher than the list price in order to win the home. This is where your home buying team really shines! We will sit down with you bring in the lender and talk about all of our possibilities. Our goal is to educate and advise so you can make the best decision given your unique circumstances.
Now that we know what our offer price will be it's time for us to put together all the documents needed based on your loan type, closing and inspection dates, items that convey, and any contingencies we need to include.
Contingencies are there for your protection and give you an opportunity to cancel the contract in the event an inspection reveals something catastrophic. It's important not to trust this critical part of the process to an inexperienced agent. We utilize our vast experience from 100's of closed transactions to educate, guide, and protect your best interests. Once we have reviewed everything we sign and submit our complete contract with lender letter to the seller's agent.
One of three things will happen:
Of course you want the seller to accept your offer...it's the home you fell in love with right? Once the contract has been signed by all buyers and sellers you now have a ratified contract. Now it's time for us to inspect all aspects of the home. This is where your buyer's agent will be a crucial resource for you.