Making an Offer
We will look at several homes and be open minded. Share with me what you love and hate about the homes. I'll take that and apply to future searches. When you love a home we will make an offer. They may say no. Sometimes, I will make a half a dozen offers for a buyer. We will keep trying until we get a home and price that you love.
To start making offers on homes we need your
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Pre-approval letter from the Lender
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Or Proof of Funds for Cash Purchase (bank statement or letter from banker showing account balance higher than purchase price)
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Escrow Deposit (Small Deposit to Enforce the Contract and Due within 3 days of finalizing a contract)
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Sellers will expect 30 day closings with a financed offer. Cash deals can close in as little as 10 days.
And if you are selling a house and buying at the same time, we can request all title work to be done at the same company to have a same day closing.
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And most contracts and paperwork can be e-signed from your phone to simplify the paperwork.
Inspection Period
Contracts have an Inspection Period. This is typically 15 days, shorter time period of 7 - 10 days are more attractive to sellers.
During this time the buyer will hire a home inspector to conduct a 1-2 hour inspection of the entire home. Buyers will receive a full report with details of the current condition of the home.
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A home inspection can be priced by the size of the home. A standard 1800 sq ft home may run $200 - $500. If the Inspector find more serious items additional inspections may be needed.
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The Inspection Period protects the buyer from costly unknown issues with the home.
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Broken AC
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Roof Damage or Past Replacement Date
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Electrical Panel that will not Pass Insurance Standards
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Poly Piping
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Chinese Drywall
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Foundation Problems
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Mold
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Your lender may request a test of the water in a well as a required inspection.
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You will go over the report with the Realtor to discuss what is acceptable and not acceptable. You may negotiate further credits if the Inspection shows many things that are in need of immediate, expensive repair.
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The buyer has the right to cancel contract and the Escrow is Returned within the days of the Inspection Period.
