Making an Offer Checklist

Before you apply for a loan, you and your real estate sales professional must first submit an offer to purchase a home and the seller must accept it. You then have a ratified sales contract. Your mortgage loan amount will be based on the purchase price of the home outlined in your ratified sales contract.

This checklist will help facilitate the process. You should make sure to discuss each step with a REALTOR¨ and seek further guidance as needed.

We suggest you print this worksheet, then check each box after you've reviewed the steps. Or, save this checklist to your account for future reference.

 

Step 1: Prepare to make an offer

Revisit the neighborhood at various times of
     day and night 
Talk with prospective neighbors to discuss what it's
     like to live in the area 
Look at the home more critically to discover any
     overlooked flaws or attributes

Review:
Market value of home
Home's condition
Special circumstances
Step 2: Review pre-qualification

Finalize the exact amount you can pay for a home. 
Seek advice from your real estate sales professional
     regarding comparable homes in the neighborhood
     and ask for any other relevant information.
Step 3: Make an offer

Submit purchase and sale agreement to real estate
      agent. This document includes:

Description of property 
Price offered 
Down payment
Earnest money
Financing
Contingencies
Closing date 
Occupancy date 
Length of time offer is valid 
Inspection
Any other requirements based on advice from your
     real estate sales professional
Submit earnest money to show seller you are serious
     about your offer. Check with your real estate sales
     professional regarding a customary amount of your
     "good-faith" payment. (No set amount is required.)
Step 4: Seller response

Acceptance 
Counteroffer 
Rejection

 
contact Lee Brewer at lee@leebrewer.com