Making an Offer on a Home
When you have found the right property, your Realtor will draft your offer.
The major components of which include:
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Price - Depending on market conditions, your opinion of value and market information provided by your Realtor, the price you offer may differ from the seller's asking price.
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Deposit - The deposit demonstrates your good faith and is applied against the purchase of the home upon closing. Your Realtor can advise you on the appropriate amount.
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Terms - These include the price offered and any financing details.
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Conditions - Typical conditions include "subject to home inspection", "subject to securing financing", and "subject to the sale of a buyer's property".
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Inclusions and Exclusions - These might include appliances, window coverings,and light fixtures.
- Closing and Possession Date - Generally, the day the title of the property is legally transferred and the transaction of funds finalize
Your Offer to Purchase will be presented as soon as possible.
The seller may accept the offer, reject it, or submit a counter-offer.
The counter-offer may be in reference to the price, the closing date, or any number of variables.
Offers can go back and forth until both parties have agreed, or one of the parties decides to end negotiations.