Making the Offer

I will help structure your offer for current market conditions and will represent you in all negotiations.

Financial and other considerations

Once you have identified the property that can fulfill your goals and are prepared to make an offer, there are financial, psychological and emotional considerations in structuring your offer. Is the property “hot” – extremely desirable – one that could invite multiple offers? If the seller counters your offer and asks for a higher price, what is your top dollar? Is the property in dire need of improvement? How motivated is the seller? How motivated re you? What contingencies have you placed on the offer? Do you have to sell a property in order to purchase this oe? Are you pre-approved for a loan?

Writing the offer

In writing the offer, there are several factors that I can discuss with you to help you make and informed decision:

• Purchase price.

Having viewed other properties, you will have a good idea of the value of your prospective home. I can provide you with information about similar properties in the neighborhood that have sold recently. This information will help you establish fair market value and guide you to the “right price”.

• Loan contingency.

If you are obtaining a loan to finance the purchase of your home, I will structure the purchase contract to allow reasonable time to obtain a loan from a lender of your choice and at terms which are acceptable to you. It often takes 3-4 weeks to obtain a loan commitment.

• Inspections.

In the majority of transactions, offers are made contingent upon obtaining a approving inspection reports on the property by licensed professionals. This is to inform and protect the buyer about known and unknown conditions. We recommend that here major inspections be conducted: pest control, general contractor and underground tank inspection. It may also be appropriate to have inspections by structural engineers, roofers, or other specialists.

• Personal property to be included.

It is important to clearly identify all personal property that will be included in the sale.

• Dispute resolution.

Liquidated damages, mediation of disputes and arbitration of disputes address what happens if a buyer and seller get into a dispute. I can provide you with summaries of these contract provisions to help you decide if you want to include them into your offer. You may want to consult a real estate attorney. (see the following for additional information)

Presenting and negotiating your offer

I will represent you to the seller and seller’s agent in the best light possible to obtain an accepted offer. When presenting our offer, pre-approvals, financial statements, etc. may be appropriate.

Submitting your deposit

Evidence of a good faith deposit must accompany your offer. It is customary for you initial deposit to be 3% of the purchase price. This is usually a personal check made payable to a title company of your choice.