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Step 4: The Offer

Many factors need to be addressed before submitting an offer to purchase real estate. We have the tools and experience required to make sure you are submitting a professional offer to the seller. Once an offer is made in writing, it is a binding contract to purchase that property. Everything should be written into the contract that concerns you and we will guide you through that.

There could be multiple offers on the property or yours could be the only one at that time. Realize that it is rare to have an offer just be accepted as is without some form of counter-offer. In the end, this boils down to a negotiation between you and the seller for that particular piece of real estate. As part of our Win-Win philosophy we believe it is important to think about the seller’s goals and how they compare to your offer. The strategy for you to get the place you want involves thinking about what the seller needs to happen as well.

The seller is required to prepare something called the Seller’s Disclosure. This document is an assessment of anything the owner knows has been done to the house since he owned it. Basically an accounting of all main areas related to the house. This form should be reviewed prior to making any offer and we will walk you through that process from top to bottom.

Knowing how much to offer is a really big deal. You must consider several issues when determining that price:

o Comparable Market Analysis (CMA) needs to be done to support your offer (what have other homes in that area sold for recently?)
o If it is a buyer’s market and there are other similar homes available this can improve your bargaining position.
o Do any repairs or renovations need to be performed to prepare the house for you to make it move-in ready?
o What amount are you comfortable paying for the house?
o Your maximum allowable purchase price per your credit pre-approval basically controls how high you can go.

Several other options could be available depending upon the receptiveness of both parties. There could be a lease option setup to allow you to rent the home for a certain period of time and part of those rental payments could go toward the purchase price of the house. Perhaps the seller would consider some form of owner financing on the property. In any of these cases, our knowledge and expertise will be valuable in determining the overall cost to you and if it still fits your needs under those circumstances.

Win Win wants to make sure the "T"s are crossed and the "I"s are dotted on any offer you make to purchase real estate. The Offer begins the negotiations with the seller and normally requires you to make a cash deposit along with it to show that you are committed to the purchase.

STEP 1: Buy vs. Rent

STEP 2: Price Point

STEP 3: The Search

STEP 4: The Offer

STEP 5: Due Diligence

STEP 6: The Closing

 Download full guide here

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