The Offer
Once you find the right property, the next step is to make a purchase offer to the seller. These will include price (I will provide you with the research needed to determine value), financing (and possibly a financing contingency), inspection (and possible inspection contingency), title review, any items of property you want to make sure are included, warranty, repairs, or other home enhancements, closing date, and possession. I will review the forms with you in detail to make sure you are comfortable with all the components of the offer.
In the offer, you may decide to include a number of contingencies as listed above. These protect your interest and earnest money and provide an escape clause should the home or your financing not work out as planned.
Negotiation
The seller has three options – accept your offer, decline, or counter. If they counter, then I will work with you to negotiate on your behalf. I will be looking for win-win opportunities, keeping your preferred terms in mind, but working towards the end goal of getting you the property. When negotiating, you will be in the driver’s seat, but I will help guide the process.
Mutual Acceptance
If both sides can come to an agreement on all terms, we have reached a point of mutual acceptance and this date becomes the countdown date to several of the timed terms of the purchase and sale agreement.
