STEP 4 - Write an Offer
- A realtor or attorney can assist in drafting the offer
The art of the offer and counter-offer is a delicate balance. The buyer wants to pay the lowest possible amount for the house and have flexible terms like closing dates, inspections and other mortgage commitments. The seller wants to get as much money as possible with very few contingencies and a quick timeline. Working with a realtor helps this process.
- Be prepared to put down earnest money
Earnest money is a deposit made to the seller showing your good faith in a transaction. Earnest money allows you additional time when finalizing financing.
The art of the offer and counter-offer is a delicate balance. The buyer wants to pay the lowest possible amount for the house and have flexible terms like closing dates, inspections and other mortgage commitments. The seller wants to get as much money as possible with very few contingencies and a quick timeline. Working with a realtor helps this process.
Earnest money is a deposit made to the seller showing your good faith in a transaction. Earnest money allows you additional time when finalizing financing.