Step 6
Make An Offer
Once you have found the home of your dreams, and you will most likely know it when you see it, the next step is to make a formal offer for the property. Contrary to what you may think, all offers MUST be in writing. You and your Broker will work together to gather the information necessary so you can make an informed decision about the price you offer for the home. The information you will use will include recent sales of comparable properties in the neighborhood, size of the home, and quality of the amenities in the home and the location of the home.
The contract offer will detail the duties and requirements of all parties to the transaction. Prior to actually making an offer on a property, it would be beneficial for you to take a look at a blank contract, so you can familiarize yourself with the document.
The contract offer is a legal and binding document, and once all parties have accepted all the terms and conditions of the contract, there will be no changes made to the document.
You should familiarize yourself with the Option Fees and the Option Periods, which are available through the contract negotiations. You should be confident that you understand all provisions in the contract, and ask as many questions as necessary of your Broker.
Remember, there are no stupid questions!
