You write the offer!
Your Real Estate Professional will help you with the following items:
- Review the homes that have sold in the area.
- Identify the condition of the home. Most homes are priced at market value with the condition of the home taken into account.
- Decide on a price.
- Determine the deposit amount.
- Chose a date (usually 7-10 business days) to have conditions met. It includes the financing, insurance, inspection and other conditions in the agreement.
- Identify what fixtures and chattels to include in the purchase price.
- Decide on a closing day. The day you will move in to your new home.
So...what happens when more than one buyer submits an offer on the same home? This is what we call a "competing offer" situation. Simply put, it is when more than one buyer puts an offer on a home. The seller will have the chance to review and select the offer that best suits their needs, if this happens. Usually, they select the highest offer. Other conditions, such as closing date, could be taken into consideration as well. If this happens, you and your agent will talk about a strategy.
There you have it, the process of writing an offer. There are many important, strategic factors to consider besides the price. Your agent will assist you every step of the way.
Thanks for reading. Until next time...Keep It "REAL"!