I found my dream home! How do I make an offer?

Great! You found the house that checks all the boxes, you have started visualizing where your belongings will go, and you are dreaming of all the future memories you will have there. Now what? It is time to make an offer! The offer is the document that your buying agent presents to the seller during negotiations that outlines what you are able and willing to pay for the house.

The offer document will include:

• The house’s address and legal description
• The purchase price, down payment, and earnest money (which is what you pay when making the offer to show you are serious. It’s held in escrow until it ca contribute to your down payment at the time of purchase).
• Other terms, such as it being an all-cash purchase or subject to you getting a mortgage loan
• The expiration date of the offer and targeted closing and move-in date
• Seller’s promise to transfer the title
• How taxes and utilities are transferred from seller to buyer
• Establish who will pay for inspections, title insurance, and survay
• Other state-specific requirements
• Contingencies like financing and home inspection
• Provisions for a final tour of the house prior to closing.

Home Inspection

Once you and the sellers have settled on a sale price and all terms of the legal agreement, you need to start thinking about a home inspection. While not usually required, we strongly encourage you to have a home inspector tour the property, even if it is not included as a contingency in the purchase agreement. The home inspector will thoroughly review the house’s overall condition and make note of what needs to be fixed. It is important for you to fully understand what you are investing in and what problems need to be discussed with the seller to determine what updates will occur before and after title transfer.