Making the Offer and Buying the Home
You’re ready to make an offer on a home when:
1) You’ve found one that captures your attention – and affection.
2) A lender has prequalified you.
Now, we’re going to make sure you look good to the seller.
That’s why it’s important to understand—
THE OFFER SUBMITTING PROCESS
To submit an offer you will need to do 3 things:
1. Meet with me to review and sign your Residential Purchase Agreement (RPA), your offer.
2. Contact your lender. Provide a pre-approval letter from your lender for the amount of your offer price.
3. Send us your Proof of Funds statement that reflects funds for your down payment or states if you are paying all cash for the purchase price amount. A letter from your bank may also serve as proof of funds.
We will review the RPA, page by page.
It is here where the buyer constructs an offer and all major terms are laid out prior to entering escrow. As your agent, we want to make certain you understand all the points of this contract prior to submitting it.
Some of the RPA major points include:
What you offer on a property depends on a number of factors, including its condition, length of time on the market, buyer activity, and the seller’s urgency.
We will provide you with the information you need to make the best offer possible on each specific property.
Typically, your offer is submitted via email from the buyer’s agent to the seller’s agent. Once submitted the seller will then do one of the following:
• Accept the offer
• Reject the offer
• Counter the offer
The most common is the counteroffer. In these cases, our experience and negotiating skills become powerful in representing your best interests.
When a counteroffer is presented, we will work together to review each specific area of it, making sure that we move forward with your goals in mind and ensuring that we negotiate the best possible price and terms on your behalf.
Please keep in mind in this low inventory market there is a lot of competition. The first offer we write might not get accepted. Be patient. The perfect home for you is out there and we will help you find it.