You’ve fallen in love. But it’s important that you don’t let your emotions get the better of you when making an offer. Remember, real estate is an investment. Fortunately, your real estate agent is there to help you put together an Offer to Purchase and discuss all the details.
Here are a few things you should know:
• Not all offers are the same – the main factors on most offers will include price, deposit, terms (which includes financing details), conditions, specific items that are included or not with the home and the closing date. From there, you can decide to make a “firm” offer which means that you’re willing to buy the home exactly as it is. Or, you could make the offer “conditional” on things like a home inspection, approval of financing or the sale of your existing home
• Negotiating may come into play – the seller will either accept your offer, reject it or make a counter offer based on things like price, closing date or other conditions. While receiving a counter offer may be unsettling, know that your real estate agent has plenty of experience to help you. Some good tips for negotiating are: making sure what you’re asking for is fair and equitable; be polite and collaborative; hold fast to your “needs” and be flexible on your “wants”; and know when to walk away no matter how hard that may be
After agreeing on terms and signing the offer, it’s time for the next step…