1. Getting Organized
2. Mortgage Financing
Pre-Approval, Appraisal, Commitment
3. Searching for a Home
4. Offer & Negotiations
5. Home Inspection
| || || || || ||7. Move-in|
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:
(mortgage commitment date, closing date) and various deadlines
(additional deposit due),
amount ($ amount or %),
homes inspection (and potential other inspections - oil tank,
well water, septic tank, asbestos, etc.)
various contingencies under the contract, etc.
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 $1,000 to $10,000 depending on the purchase price.
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.
approximately $400 to $900 depending on square footage, age of property, etc.
Financing costs (application fee, commitment fees, points, appraisal fee, etc.)
vary depending on the transaction (typically 3 - 5% of the total purchase price).
The remaining balance of your down payment:
Advise you to seek legal counsel, when and
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,
Required inspections and timing,
Key contract dates (attorney review, inspections, mortgage
Closing date and location,
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)
/negotiate any counter offer(s) with the Seller and/or Seller's Agent.
Ensure completeness of the final executed contract copies and signatures.
3] [To Next Step 5]