|
BUYER
LINKS
home
buying process
first
time buyers
why use a realtor
obtain
financing
search for property
offer to buy
get protection
glossary
|
Once
you have selected the house you want to buy, your next step is
to submit a signed real estate offer to purchase. Your Bellamy
Team sales associate knows what forms, addendums, and disclosures
are needed or required by law and what contingencies to request
in your offer to purchase. We will walk you through the process
step-by-step,
to your complete understanding and satisfaction, in order
to prepare your real estate offer.
- How
much should I offer?
You know the seller's asking price, but your Bellamy
Team
sales associate will assist you in determining what the home
is really worth by researching comparable properties and market
statistics.
- And
how much earnest money should accompany my offer?
A substantial escrow deposit shows the seller that you are serious
enough about purchasing their property for them to take it off
of the market. Your earnest money is usually held in an escrow
account until the offer does not go to contract, the contract
is terminated by either party, or the sale goes to a successful
closing. At closing, these monies are applied to the buyer's
down payment or closing costs. If the sale does not close, these
funds will be dispersed according to the terms of the contract.
- Who
chooses the closing date and possession date? You do.
So be sure to allow yourself enough time to do everything you
need to, like obtain financing.
-
I signed the offer. Now what?
Your Bellamy
Team
sales associate will present the offer to the seller's agent.
The seller will either accept, reject, or counter your offer
with changes in the terms. If the seller submits a counteroffer,
you may either accept their counteroffer, make another counteroffer,
or withdraw your offer.
When both the seller and buyer agree to the terms and both sign
the document, it becomes an "effective" contract, also
known as "valid" contract. Now that the deal has "gone
to contract", a number of tasks must be completed in a timely
manner to protect your purchase.
|
|
