found the perfect home and are ready to make an offer. Because
oral promises are not legally binding, you need to get your
offer in writing. Your offer will include the price you are
offering, as well as all of the terms and conditions. You
may ask yourself, what specifically should my offer include?
The following is a list of common things:
of the property
of earnest money (deposit) and how it will be returned if
the offer is not accepted.
limit of your offer
contingencies you would like to state, which can be very
promise to give a clear title
are some more basics that are involved in the process:
1] How much should I offer?
The seller has an idea of what he would like to receive for
the house and you know what you would like to pay for the
house. Joe or Colonel can supply you with an up-to-date list
of how much properties have been selling for in that neighborhood.
This will help you in determining a range of value for that
Remember: Place yourself in the seller's shoes. What would
you do with your offer? The most important thing to remember
is that you have the final say as to how much to offer.
2] How much of a deposit should I put down?
A deposit is given to show the seller that you are serious
in your offer to purchase their home. The deposit amount is
usually between $2500 and $5000.
3] When can I take possession?
This is an area that sometimes can be negotiated. Possession
or completion usually happens as of noon on a specific date.