How To Make An Offer
First-Time Homebuyer Mistakes to Avoid
Beaufort and Morehead City, North Carolina
How to make an offer on the Home of Your Dreams!
Once you and your Realtor have found the house of your dreams, you then prepare to write an offer. Your realtor will have compiled information about the house as well as comparable properties that have sold in the area in the past six months. Based on this information, you will arrive at what purchase price you would like to offer the Seller.
Next you'll need to decide how much Earnest Money you'd like to offer. Earnest money is not required, but it shows the Seller how serious you are about purchasing the property and serves as a security deposit. Other details to specify include the closing date (typically 30-45 days), which Title and Escrow companies to use and which contingencies you'd like to include in the contract.
The contract that you and you're Realtor will be completing should be a standard contract that is pre-printed and provided by your agent's company. There will be several options regarding the contingencies you include that will be relevant to your financing, title, structural inspection and anything else you'd like to base the sale on. You're Realtor should have a thorough understanding of the contract, but as Realtors are not lawyers, if you have any questions about the contract, you should consult an attorney.
Once you've completed the contract, you're Realtor will submit it to the Listing agent to be considered by the Seller. Keep in mind that no contract is binding until all parties have signed each page and any changes made to the original. Until all parties have signed and reached 'mutual acceptance' then either party can rescind their offer with no penalty. The ability to rescind before Mutual Acceptance is one reason that Realtors must always act as quickly as possible since time is of the essence and you don't want another Buyer to present a better offer before your offer is accepted.
First-Time Homebuyer Mistakes to Avoid!
- They don't ask enough questions of their lender and miss out on the best deal.
- They don't act quickly enough to make a decision and someone else buys the house.
- They don't find the right real estate professional willing to help you through the whole home-buying process.
- They don't do enough to make their offer look good to a seller.
- Think about resale before they buy. The average first-time buyer only stays in a home for four years.
Back to Buyer Tips |
Beaufort Buyer's Agent |
What Is Earnest Money? |
How To Make An Offer
First-Time Homebuyer Mistakes |
Moving Day Checklist |
Negotiating An Offer
Owning -vs- Renting |
Signing, Closing & Possession |
The Home Buying Process
Tips For First Time Homebuyers |
What Is Title Insurance?
Please Contact Copeland Real Estate to act as a Buyer's Agent for homes, land, commercial property or other real estate in Beaufort or Morehead City, North Carolina.
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