The Major Elements of an Offer consist of,
Price:
Depending on local market conditions, your opinion of value, and marketing information provided by your REALTOR®, the price you offer may differ from the seller’s asking price. It’s important to understand both sides!
Deposit:
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes. The typical range of a deposit is anywhere from $20,000-$50,000.
Conditions:
These might include “subject to home inspection”, “subject to the buyer obtaining financing” or “subject to buyer selling their property”. Understanding the situation you are in for the listing you are viewing is crucial. ALL properties and offers are different!
Inclusions and Exclusions:
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.
Closing or Possession Date:
Generally, the day the title of the property is legally transferred and the transaction of funds finalized unless otherwise stated. 9/10 times the Seller will have a closing date they prefer and is an easy way to make your offer more attractive IF you are able to make it work.
All of these combined can create an extremely attractive offer OR an offer that Sellers will want to ignore. It’s EXTREMELY important to trust the REALTOR® you are working with and their ability to construct an offer that not only protects you but also gives you the best chance at success with the Sellers.
If you are curious to know how The Dodd Team can help throughout your buyer’s journey, reach out, we would be more than happy to discuss.