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Writing an Offer

Here are some things to consider to ensure your offer gets accepted

What to expect when writing an offer

  • Foreclosure, Short Sale, Traditional Sale, Cash
  • What is the buyer activity?
  • Are there current offers on the home?
  • What other homes are for sale in the neighborhood?
  • What has sold recently in the area?
  • How long has it been on the market?
  • Are they price driven, or are there other terms that are important to them such as a lease after sale?
  • How long of an escrow are they looking for?
  • Closing costs such as title, escrow and lender fees usually cost between 1–3% of the sales price.
  • Structural Inspection $250–$500
  • Termite Inspection $75–$115
  • Radon Inspection $125
  • This is not uncommon for homes priced right for the market and in great condition.
  • Often the seller will ask for your “highest & best” offer. In other words, the highest price you will offer. This strategy helps ensure that if another buyer offered more, you would not have any regrets because you gave it your best shot.
  • Escalation Clause: You agree to escalate your offer by a specific amount above any and all competing bona-fide offers from preapproved buyers up to a maximum purchase price.
  • Appraisal Clause: You agree to pay up to a specific amount over the appraised value, if the appraisal comes in short of the sale price.

Writing a letter to the seller is a way to personalize your submitted offer.

  • Tell the seller a little bit about yourself and/or family.
  • Explain and detail to the seller what you love about their house.
  • Share how you and your family see yourselves growing in the home and making it yours.
  • Keep the letter’s length short and sweet.
  • Days 1–10: Inspection period
  • Day 15: Review of loan documents
  • Days 10–60: Closing period
  • Days 1–10: Inspection period
  • Day 15: Review of loan documents
  • Days 10–60: Closing period