Tips on Making a Purchase Offer that Will be in Your Best Interest

Author: marco

Author: marco

Now you that you have found the house that you want, it is time to take the necessary steps to make it yours. One of those necessary steps is making a formal offer on a home, but you have to be sure that you are serious about the purchase before you make the offer. If you make a formal offer and the seller accepts it, you have entered into a legally binding agreement with all the legal ramifications. Therefore, you have to make sure that the offer to purchase for is specific and that it contains those things that are most important to you. In addition, the more information you have, the better negotiations are going to go for you. You should have taken notes along the process so that you can refer back to them when you are going to make an offer. If there was anything that needed to be either replaced or fixed, you should include those in the offer as contingencies. Appliances and fixtures can also be included as contingencies, but that is all subject to negotiation. And you should definitely make your offer contingent upon the home passing a home inspection conducted by a professional and you obtaining financing. When you make your earnest money deposit, it generally shows how serious you are about purchasing the home. The deposit will be held in escrow and get applied to closing costs. However, if you fail to meet the terms of the offer, you may lose a portion or the entire deposit. Since there is going to be money involved, you need to list your contingencies on the offer. Do not make the list so long that you make the seller believe you are not at all serious. However, make sure that the really important things are included as contingencies in case there are any problems later on. Also, if you do not want to risk losing the deposit because you could not get financing, go and get mortgage loan pre-approval, rather than just getting pre-qualified. Pre-approval will show the seller that you are serious about making the purchase since the money is already available to you. Pre-approval may also help you in having to put less money into the deposit. Unless you are well-informed and have experience in real estate, try not to go it alone. Things can go much more smoothly for you if you hire a good real estate agent to represent your interests. You will have someone there to assist you every step of the way. In a manner of speaking, you are purchasing a type of insurance when you have an agent representing your interests. If the seller is smart, he/she is more than likely to have an agent who will represent his/her interests. Therefore, you do not want to give all that advantage to the person trying to sell you the house. You might even want to consult an attorney with expertise in real estate. You will be ensuring that all the legal requirements are being met and protecting yourself at the same time. It is not a bad thing to be safe and protect yourself during the purchase of a home.About the Author:

You can view and purchase great real estate by going to The Foothills Homes for Sale, Ahwatukee AZ Golf Properties in the Foothills and The Foothills Condos for Sale in Ahwatukee.

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