You need to consider the price, the terms (earnest money, down payment, financing or cash), the dates (closing and possession), inclusions and exclusions and contingencies (loan, inspections, attorney approval, etc.).
Before making an offer, ask yourself:
- What price are you comfortable paying?
- How do you plan to purchase the home? (e.g., 15-year or 30-year fixed)?
- Knowing your method of purchasing, how much is your anticipated monthly payment?
- When would you like to move into the property?
- What personal property is included and excluded from the sale? Are you okay with this list?
- In addition to the loan (if it applies) and the inspection, should there be other contingencies you consider as part of the offer?
Once you have these answers, your agent will draft up a purchase agreement and send it to the listing agent. Most likely, you will hear a response within 24 hours. However, be prepared because both sides can counter as many times as they would like. Sometimes, this is a quick process and offers are accepted after a few conversations. Other times, it can be days until an offer is concluded.
There are many details that can halt the acceptance of an offer, including a family fixture that the seller doesn’t want to give up or closing costs that a buyer would like the seller to pay. It is your decision whether to continue with the offer or not. Be sure you have a trusted Ruhl&Ruhl RealtorRuhl&Ruhl Realtor in your corner to help you through the process.
