What To Offer - Important Factors!

Once you have determined the amount you are willing to offer, the REALTOR® will help you prepare a written offer. In most transactions you will offer to deposit earnest money with the escrow agent. Earnest money manifests your sincerity in making a reasonable offer and abiding by the terms of the written contract.

Contract forms

Your REALTOR® will help you prepare an offer using standard forms. The offer, if accepted, will become a binding contract. This document is the most important paper you will sign because it lays out all the terms of the transaction. It will contain such things as:

• a legal description of the property,
• any property that will be transferred with the home, (blinds, curtains, fireplace screens, etc.)
• the price,
• financing conditions and contingencies,
• amount of earnest money deposit,
• name of the escrow agent and title company,
• proration of insurance, taxes, and interest,
• fees to be paid and who pays for which,
• rights to inspect the property and for repairs to be made,
• dates of closing and possession, and
• what happens if either party defaults on the contract.

Inspections and warranties

Before signing the contract, take precautions to protect yourself against unseen defects in the home. An inspection by a qualified inspector or other professional can provide you with unbiased opinions about the condition of components and systems in the property such as the foundation, mechanical systems, plumbing systems, appliances, etc.

If you can, accompany the inspector at the time the inspection is conducted. When ordering the inspection, ask the inspector the approximate time needed to complete the inspection so you can reserve sufficient time from your schedule. Be sure to ask the inspector to detail the scope of the inspection. Not every inspector inspects every component in a house. For example, does the inspector inspect foundations, air conditioning and heating units, roofs, swimming pools, septic tanks, etc.? The cost of home inspection depends on the size of the home, but the price could prove to be worth it. It's also a good idea to get a termite and other wood destroying insect inspection.

     I hope this information has been of value to you.  The most important thing I hope you take from this is that I am available and willing to help you with all the information you want so that you can make the most effective decisions you can.

     The instant you need some assistance with a question regarding any real estate, whether it be about buying, financing, or even figuring out how to get your own property sold efficiently, you should immediately contact Keith using any of the contact forms here on the site, or call him directly at (850) 830-6771.You can also email him: keith@keithbaileyrealtor.com