When it comes time to make an offer you will require current market information and assistance in drafting your offer. You will need a Real Estate Professional.
A Real Estate Professional will communicate your Offer to Purchase to the seller, or the seller's representative, on your behalf. Sometimes there may be more than one offer on a property at the same time. A Real Estate Professional can guide you through this process.
Firm Offer to Purchase
Usually preferable to the seller because it means buyers are prepared to purchase the home without any conditions.
Conditional Offer to Purchase
Usually means there are one or more conditions on the purchase, such as "subject to home inspection", "subject to financing" or "subject to sale of buyer's existing home". The home is not sold until all the conditions have been met.
Acceptance of Offer
An Offer to Purchase is presented to a seller who may accept the offer, reject it, or submit a counter-offer. The counter-offer may be in reference to the price, closing date, or any number of variables. Offers can go back and forth until both parties have agreed to terms or either side ends the negotiations.
Elements of an Offer
The price you offer may be different from the seller's price becuase is depending on the local market conditions and appraisal done by your trusted Realtor.
Your deposit shows good faith and will be applied against the purchase of the home when the sale closes.
Includes the total price offered and the financing details.
These might include "subject to home inspection", "subject to you obtaining financing", or "subject to you selling your property".
Inclusions and Exclusions
These are the list of items to remain in the home or not, like appliances, light fixtures, window coverings or mirrors.
Closing or Possession Date
Generally, the day the title of the property is legally transferred and the transaction of funds finalized.