Making A Purchase Offer

When you find your Vancouver WA dream home, the next step is to make a legal offer.

• Set a price. Ask your Realtor for his or her input on what you should offer for the home.

Make sure you have been pre-approved by a direct lender, not a mortgage broker.

• Deposit Funds
  

• Arrange to have the deposit held in an escrow account (not with the seller) so your money can be returned to you should the offer fall through. If the offer is accepted, the deposit will be deducted from what you’ll owe the seller at closing — when the sale is finalized.
• Add any contingencies you want in the purchase contract.
• With your offer, note how much you’ll be offering in a down payment.
• Your REALTOR will deliver the offer.

You should fully understand your offer before signing it.

Wait

• Once your offer is submitted, all you can do is wait. The seller may be decide to accept the offer, reject it outright, or offer a counteroffer.

If the seller offers a counteroffer, she will suggest changes such as the sale price or the possession date. You can accept the counteroffer, or submit one of your own.

This process will continue until the seller and the buyer mutually agree, or until the offer is rescinded. Once an offer is accepted by both parties and signed, it becomes a binding contract.

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Related posts:

1. Successful Purchase Offers
2. Home Seller Advice
3. Selling your Property
4. The Costs of Getting a New Home Loan
5. Vancouver Home Purchase tips