The Offer

Making an Offer

Once you are ready to make an offer, we will guide you through the “Purchase Process” so that each step is clear and understandable. 

Key components required before an offer is made are:-

• Comfort with projected loan/property tax/HOA fee payments
• Pre-approval Letter from lender
• Funds for initial Deposit
• Offer price level, based on the CMA information, level of repairs/upgrading required and the value of the property to you

We will have reviewed the available disclosures/reports with you prior to making an offer, so that you have an initial idea of the cost level of any repairs as well as property condition. We will also discuss additional inspections, if any, that we recommend prior to the end of the Contingency period.

We will have discussed the terms of your loan with you and your lender so that we understand the type of loan, loan amount and interest rate. Additionally we will determine from your lender the time required by the lender for removal of the Finance Contingency (for appraisal and for underwriter approval on the loan) and the time to fund the loan for fixing the Close of Escrow (COE) date.

Once all items are available we will meet with you to write the offer. Your signature(s)/initials will be required on 15 - 20 pages and between explanation and signing you should allow 1-1/2 to 2 hours.

The offer package will consist of:-

•            Agency Disclosure

•            Letter of Introduction

•            Summary of the Offer

•            Pre-Approval Letter

•            Copy of the Initial Deposit Check

•            The Purchase Contract/Offer

•         Signed Disclosures

Once the offer is written and the offer package is assembled, we will provide you with a copy and then personally present the offer package to the sellers agent/seller

Offer Response

The seller has the option to:-

•            Reject the Offer

•            Counter the Offer (either as a single response or as a multiple response)

•            Accept the offer

Rejection - an outright rejection is unusual and if received is based on too low an offer price or unrealistic expectations of the Seller.

Counter - a counter offer takes us into a negotiation phase if it is a single response. Negotiation will be more restricted if the counter is based on a multiple response.

Note: A counter is a new offer based on changes in the named items of the counter but all other terms and conditions in the contract remain the same.

Acceptance - means that we are “in Contract” and the transaction clock has started.

Our first action, on contract acceptance, is to produce and distribute a:-

 Transaction Timeline & Contact List

so that all participants in the transaction understand the terms and are operating to the same timeline.