Making An Offer
Back in the ‘good ‘ol days’ we could call up and make an offer over the phone… “Hey, I’ll give ya $100,000 for that house”. And that was the basic process.
But now, in the highly detailed and litigious society we live in, there are pages and pages of details that must be written up as “the offer”. Nothing can be left to chance. We must propose all elements of the offer, so be prepared to make some decisions. Here are just some of the pieces of information that will most likely make up your offer:
*how much earnest money is being presented
*how much down payment you intend to make
*what personal property stays with the property
*what type of loan you will use
*does the offer depend on you selling a home first
*do you want the right to do an inspection (highly recommended)
*who pays any taxes or special assessments due
*will the property be your residence (homestead vs. non-homestead taxes)
*are there any environmental concerns
*is property hooked up to city utilities
*does the property potentially contain lead based paint
And these are just some of the variables you will deal with – there are several others as well. Don’t let all the details overwhelm you though. At the time you sit down to make the offer, your Realtor will go through all that with you and help explain anything enigmatic. This is also a great time to ask any questions and get your agents recommendations around these issues. Remember though, this is your offer. At the end of the day the choice is yours to make.
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