Place an Offer

At this point the home buyer and their Buyer’s agent discuss a game plan on how to structure the offer. You first need to decide if you can afford the purchase of this home. This is where financing options come into play.

You should also discuss the different types of inspections that will need to be done. Most inspections are for the benefit of the buyer but your lender may require roof and termite inspections as conditions for loan approval.

The Buyers agent can also provide an estimate of the closing cost for the buyer to determine what funds will be required for closing.Your REALTOR should also suggest types of contingencies (financing, settlement date, selling your current home, home warranties, seller pays closing cost, home inspections). All of these can be added into the offer for negotiation.

An offer for purchase is then drafted and reviewed by the buyer and signed. At this point the REALTOR will advise you about earnest monies. The earnest money usually in the range of 1% of sale price. Your Realtor can advise you on what is an acceptable amount.