Step 6: Preparing an Offer
You have found a home and want to make an offer. We will need to make an offer as soon as we can. When you are ready, we will need a few things:
- Full legal name: The full legal name, phone number and email address of anyone who will be on the contract.
- Offer price: Offer price for the home. We can discuss whether or not you should expect to pay below asking price, asking price, or above asking price based on the market.
- Your walk away price: Negotiation is expected after your initial offer so have an idea of how much you are willing to pay for the home. It is best to make this decision prior to going into negotiations to decrease the chances of an emotional purchase.
- Closing date: Closing takes place approximately 45 days from contract acceptance. So if you are planning on moving July 1, you will need to put an offer in around the middle of May. There are exceptions to the 45 days closing period. You can ask for a longer closing period which is not commonly accepted. You can also pay with 100% cash which generally closes faster.
- Earnest money: Typically, the earnest money is 1% of the purchase price and is due when the offer is written. It is also part of your down payment. For example, if you put $10,000 down for a down payment and you pay $1,000 in earnest money then at closing you owe an additional $9,000 for the remainder of the down payment. Click here for more information on decisions to consider before writing a contract
Want to review the contract in advance? Just let us know, and we will send a blank version via email.
Now that we have all of the above information, we will write the contract and schedule a time to meet in person. If you cannot meet in person then we will have you sign electronically via a program called DocuSign.
We will submit the contract to the seller’s agent. Some negotiations go quickly while others can take 24-72 hours. Remember to be patient as we wait for the seller to make their decision.
Questions? Feel free to contact us at 402-415-4799 or email us at email@example.com