Step 3-Offers

Now that you’ve found the right home it’s time to make an offer! This is the most exciting and nail-biting part of the process. Given the importance of this investment, it is crucial to work closely with your realtor to prepare the written Contract of Purchase and Sale. This document should include many standard details but also should include any conditions important to you, for instance the date when you expect to take possession, the purchase price that you are willing to pay, and whether there are any items that you want to be included on that price, such as refrigerator, drapes, etc. Be aware that, once the document is signed by both you and the seller, it is a legally binding contract. Once submitted, the seller has four choices: accept your offer, reject your offer, ignore your offer or make a counter-offer. A good realtor is key during these negotiations, as he will do his best to get you what you want. When all the conditions of the Contract of Purchase and Sale are met and you have submitted the deposit (which is held by a trust account), all you have to do is wait for your closing date.