Writing Your Offer

Those weeks of searching are about to come to an end. With your Realtor's expertise, you've found the home you want. Now is the time for your Realtor to help you make an offer and to start negotiations on your behalf with the seller.

Purchase Agreement

The first step begins when you and your Realtor develop a purchase agreement of offer, as it is often called. This is a legal agreement, which, if accepted by both you and the seller, binds the sale, and begins the closing process. Among other things, it includes:

• The price you are willing to pay for the property.
• The date of the closing and the date you will assume possession of the property.
• Who is expected to pay any special assessments and property taxes.
• The interest rate and type of financing package you have chosen.
• A list of items to be included in the sale. In most cases, items that are permanently installed are already considered part of the property. But if there is any doubt, list them in the agreement. You can also ask for items such as drapes and appliances.

After your offer has been accepted, it's wise to have the home inspected by a professional to find out its true condition. That inspection will help you know exactly what you are making an offer on. Offers are often written "subject to home inspection" which means that a buyer doesn't have to commit to actually purchasing the home until the inspection is complete and facts are documented.

Once both parties have signed the agreement, the transaction moves onto the closing. Now you are one step closer to your new home.