Step 4 - How To Make The Offer!
You're almost there! You've figured out how to get your home buyer rebate / cash at closing! The next step is how to make the offer.
There are a few ways to do this. We can draw up the offer or you can do it. Either way, as the buyer's agent we need to be included in all emails with the listing agent. If you wish to fill out an offer and get it to the listing agent that is fine but want to earn our share.
Whenever we make an offer we "Contingencies" in the offer. Contingencies are a way out of the deal if the property is not as we expected or at least a way to modify the price and terms. Common contingencies are; appraisal, inspection, attorney review, Radon, pest inspection.
If you want us to draw up a legal offer, we'll need the following (you'll need this to draw up any formal offer).
To make an offer:
Once we have the above we can quickly fill out an offer form and get it to the listing agent.
- Address of property
- Legal description of property (this is usually in the mls or we can find it). All offers have to have a legal description.
- Your full names of who the buyer is
- Your current address
- Price we are offering.
- Amount of down payment.
- How much of a deposit ( we have to have a deposit for a valid contract like $1,000 or $5,000) refunded if the offer does not go through. NOTE: You do not need a deposit at time of offer, only when it is accepted.
- Seller concession if any (this is common to ask seller to pay for some of buyers costs, typically can be 3%.
- Date of offer, usually date we send in.
- How good the offer is good for (usually a day or 2, important to have a time limit).
- Desired closing date.
- Occupancy date, this is normally date of closing or could be some number of days after like 7, 14 or maybe 30 days.
- Any contingencies like inspection, appraisal, attorney review, pest inspection and Radon are common contingencies.
You can email me specifics to draw up the offer here.
If you wish to draw up the offer yourself, here are some blank offer forms for you.
REMEMBER! We are your buyers agent. We need to submit the offer with you. Do not just submit an offer direct to the listing agent. We will do it for you and c.c. you. This way the listing agent sees that it is coming from us, the buyer's agent.
Broker / owner