Writing the Offer
Time to be creative
When we have found the perfect home for you and your family and you are ready to write an offer, there are several items we cover to ensure you are comfortable and knowledgeable with the property and its location. We provide all available documents to you that are available about the property and review each item thoroughly. Examples of these documents include the property tax records, property disclosure statements (if provided by current owner), development information (past and future) and homeowner's association deeds and restrictions. We also ask the seller to provide any additional information about the property such as current warranties, survey, receipts, and documentation for any upgrades or repaired items. It is also standard practice to make a purchase offer contingent upon obtaining a mortgage. Because of this contingency, the seller will want the details of your financing plan included in the offer.
After reviewing these items we are now ready to move forward and discuss the negotiating terms and conditions for our offer which include:
Once we have submitted our offer the seller will choose one of four options:
When both parties have accepted all offers and we have a fully executed contract we will move forward with the home inspections. We have a list of excellent inspectors you can choose from and we will coordinate the times to best fit your schedule. After we receive the inspection report we will review it thoroughly and discuss any questions or concerns. If repairs are necessary we will execute the request immediately based on the agreed terms within the contract for home repairs.
Following the home inspections and after the both parties have agreed to move forward an appraisal will be ordered and submitted to the buyer's lender. A survey will be ordered after the appraisal is received. At this point we are now ready to close while the lender prepares all documents to the title company for closing. The day before or the morning of closing we will do a final walk through with you to make sure no changes have been made to the property.
The Subject Property
The lender requires that a home must appraise at the contract price. The home you are buying must be appraised to determine that it has adequate value and is marketable to ensure it will secure the loan. If the property does not appraise, then negotiations may begin again. When the home gets a good appraisal, the contract processes continues.