When it's time for you to make an offer and have us negotiate the contract of sale for you, there are a lot of things we need to go over with you besides just having you sign the offer sheet.  We need to:

• Develop a comparative market survey to evaluate the property's current market value (vs the list price) which includes considering any defects or problems observed regarding the property you are interested in purchasing.

• Advise you on the choices available in preparing your "offer to purchase" with regard to:

  • time requirements (mortgage commitment date, closing date) and various deadlines (additional deposit due), 

  • down payment amount ($ amount or %),

  • additional deposits,

  • homes inspection (and potential other inspections - oil tank, well water, septic tank, asbestos, etc.)

  • various contingencies under the contract, etc. 

• Evaluate:

  • how badly you want the property (determine your price points),

  • and, the Seller's possible motivation to sell.

• Help you develop the basic financial requirements related to your offer:

  • Initial good faith deposit:

    • due upon issuance of your offer

    • approximately $3,000 to $10,000 depending on the purchase price.

  • Additional deposit:

    • due within approximately 2 weeks of both parties agreeing on the offer and after "Attorney Review" is completed,

    • approximately 50% of your total down payment less your initial good faith deposit above.

  • Inspection costs:

    • due at the time any inspection is performed - typically within 2 weeks of the end of "Attorney Review"

    ,

    • approximately $400 to $900 depending on square footage, age of property, etc.

  • Financing costs (application fee, commitment fees, points, appraisal fee, etc.)

  • Closing costs:

    • due at closing

    ,

    • vary depending on the transaction (typically 3 - 5% of the total purchase price).

  • The remaining balance of your down payment:

    • due at the closing,

    • approximately 50% of your total down payment.

• Advise you to seek legal counsel, when and if appropriate.

• Develop negotiation strategies including possible pre-set limits and/or key points (items included or to be repaired) for negotiation with the Seller.

• Prepare a written "offer to purchase" including the proper terms and disclosures: 

  • Conditions and contingencies,

  • Items included and excluded,

  • Tenants/leases/rentals/security deposits,

  • Financing,

  • Required inspections and timing,

  • Key contract dates (attorney review, inspections, mortgage commitment, etc.),

  • Closing date and location,

  • Negotiable items,

  • Deposits/Down Payment and Related Dates, and

  • State required disclosures.

• Present and negotiate your offer with the Seller and/or Seller's Agent.

• Evaluate/prepare any counter offer(s) with you.

• Present /negotiate any counter offer(s) with the Seller and/or Seller's Agent.

• Ensure completeness of the final executed contract copies and signatures.    

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