|
Written by Tamara Schmitt
|
|
Friday, 25 November 2005 |
Good real estate agents are invaluable when it comes time to make an offer on a house. Invariably the agent will provide you with a preprinted form of a purchase contract, which together you rework to fit your needs. The contract begins by identifying the focal points, buyer, seller, property location, brokers, etc., then quickly moves to the crux of the matter: the purchase price offered, the down payment, the loan amount, and the deposit.
Time limits are set for a response to the offer, for obtaining financing, for closing on the home, and for moving in. In addition, contingencies or terms are outlined, such as the offer being conditional on an inspector's report.
In The Complete Idiot's Guide to Buying and Selling a Home, Shelley O' Hara and Nancy D. Warner define the offer process as "a combination of price and terms. If you give something up on price, you can expect to take something on terms. Everything is negotiable - the price, the terms, the occupancy date, what personal property is included, everything. You can ask for what you want. You may not get it, but you can ask. Unless you are in a very competitive seller's market, don't offer your best price first. Leave room for negotiating." |
|
Last Updated ( Tuesday, 22 August 2006 )
|
© CopyRights - GetLoansCheap.com - All Rights Reserved - All Content - Legal Disclaimer / Privacy Policy / Get Loans Cheap