Real Estate Offers

It is crucially important to make sure that all of your bases are touched and all of your intentions made clear in the offer--it can become a binding contract in the blink of an eye and a stroke of the seller's pen.

If the seller rejects the offer, counteroffers it, or simply does not respond, options are still open. You, as the buyer, can accept the counter offer, make another counter or simply move on. If, however, the seller accepts your offer (and you are notified of its acceptance) then a legally binding contract has most likely been struck. The Property is SOLD to You!

The signed offer becomes the contract. Your options now are more of the "do we want to paint the living room before or after we move in?" Once the offer has been accepted, the "lets think it over just a little bit more" phase has passed.

Some of the items that need to be addressed in an offer are:

• The proposed selling price (your purchase offer).

• The amount of earnest money (your deposit) that is being submitted with the offer.

• Down payment and Loan amounts.

• Any financing contingencies, interest rates, specific terms, etc.

• Occupancy, Inspection Period, due diligence Contingency.

• Any personal items to be included or excluded, etc.

Since an offer can become a contract very quickly, it is important to understand how there are two sides of the same coin. Lea Johnson will walk you through the purchase contract, the sale process and will negotiate the best price for you.

Call Lea & Leon Johnson for more detailed information.