Making the Offer to Purchase

You love the home, you think it’s a good fit, and are ready to make an offer. So what information do we need to know when writing the offer? As we write the offer, we’ll discuss specific details and how they affect the ability to have the offer accepted.

These include:

• What do you want to offer for the home? We will discuss asking price and our opinion of value based on condition when we toured it and comps.

• What amounts do you want to offer for deposits? (We will consider your financing, how much you want at risk, and how strong you want your offer to be.)

• Will you be having a home inspection (strongly recommended) and additional testing such as Radon and water testing? How many days should we allow for inspections to be completed and get results in?

• What date should Purchase and Sale be signed by after home inspection?

• What amount will you be financing (unless cash), and when will you submit the application to the lender? By what date will we have mortgage commitment from the lender before closing?

• What items are you requesting be included with the property such as appliances, fixtures, etc.?

• Do you need to request any closing costs to be covered by the seller?

• Is a home sale contingency or appraisal contingency clause needed?

• What date would you like to close (depending on lender’s timeline if applicable)? Where will the closing take place?

• How long do you want to give the seller to respond to the offer (offer deadline)?

• Any other conditions and terms as discussed or recommended, including using an escalation clause.

Next, we will write the draft offer with you Once you provide your approval letter and sign, we will submit your offer to the listing agent. Your offer will include:

• Contract to Purchase and TRID (Truth in Lending Disclosure) Addendum

• A copy of your preapproval for the offer amount or higher (less than 30 days old)

• Copy of your first deposit check

• A copy of our Buyer Agency Disclosure

• Signed Lead Disclosure form if required

• Signed Seller's Disclosure if available

• Other Documents requested by the seller or list agent