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When You Want To Purchase Real Estate, Write An Offer!
Written by: Sintilia Miecevole
Yes, write an offer for the real estate you wish to purchase. Sounds easy, doesn’t it? Well, it is more difficult than you might think. It’s not impossible, but there are a lot of things you have to include in an offer to purchase real estate. Think about this – an offer is the first step to the contract to buy the real estate you want! When writing your purchase offer, put yourself on the “other side of the fence”. Think about all the stipulations and the price you are offering. Is it something you feel would be reasonable if you were in their place? Although this is only the beginning of a long process of negotiations for the real estate, an outrageous offer or unacceptable improvement request may turn the sellers away from your offer and toward someone else’s.
Although the price you are willing to pay for the real estate is a big part of any offer you submit, it shouldn’t be the only thing included. Buying real estate is a huge investment on your part, so you should look at adding in protections and contingencies into your offer to limit you risk. Simply saying “This is the price I am willing to pay for this real estate” doesn’t give you any protection in the event of something unforeseeable.
When you write out a real estate purchase offer, the things that should be included are:
1. The price you are willing to pay.
2. How you plan to finance the real estate purchase and what your down payment will be.
3. Who exactly will be paying for the closing costs of the real estate sale.
4. What inspections need to be performed on the real estate.
5. Any repairs you want done to the real estate.
6. What are the purchase timetables and when will you get physical possession of the real estate.
7. What, if any, terms do you have for canceling the purchase of the real estate.
8. How you want disputes settled during the purchasing process.
As you can see, there is a lot that needs to be determined before you can give someone an offer to purchase real estate. Buying a home or any other real estate is a huge decision that can affect your credit and your finances more than any other investment. Keep in mind that careful consideration should go into both writing and considering a real estate purchase offer, as it can possibly affect your life from that point on.
About the Author: Sintilia Miecevole, host of http://www.qrealestates.com has a great resource site for listings both of residential and commercial, rentals, foreclosures, tips and articles and help with financing, inspections, closing, and locating realtors near you and more. Click on http://www.qrealestates.com for further information.
Source: www.isnare.com
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