Part 4 of the home-buying process: The offer
Once you've worked with your REALTOR® to figure out the home and price that's right for you, it's time to make your offer!
First, you and your REALTOR® will submit an offer sheet which will then be presented to the seller and listing agent of the home. There are three possible outcomes: the owner may accept your offer, reject it, or respond with a counter-offer.
If your first offer isn't accepted, it doesn't hurt to look for a new opportunity, or to even submit multiple offers at one time if the conditions are right - and especially if the market is competitive. During these negotiation processes, it's important to stay in close contact with your agent so any changes can be promptly reviewed.
Once the stars align with your accepted offer, it's time to focus on some contingencies that must be met in order to proceed with the contact. These include an appraisal and various inspections, all of which are common practices that occur during the escrow process to make sure everything checks out properly with your new would-be home.
First, you and your REALTOR® will submit an offer sheet which will then be presented to the seller and listing agent of the home. There are three possible outcomes: the owner may accept your offer, reject it, or respond with a counter-offer.
If your first offer isn't accepted, it doesn't hurt to look for a new opportunity, or to even submit multiple offers at one time if the conditions are right - and especially if the market is competitive. During these negotiation processes, it's important to stay in close contact with your agent so any changes can be promptly reviewed.
Once the stars align with your accepted offer, it's time to focus on some contingencies that must be met in order to proceed with the contact. These include an appraisal and various inspections, all of which are common practices that occur during the escrow process to make sure everything checks out properly with your new would-be home.
Shawn Cunningham
(702) 823-0855
Source: REALTOR.com