What to Include in a Purchase Offer

for Point Breeze Homes for Sale

You’ve gone through almost the entire home buying process - you’ve worked with a trusted Realtor® in your search for Point Breeze homes for sale in Pittsburgh, you’ve attended a number of open houses, you’ve picked the one home that you feel fits your family’s needs the most and you’ve already had the home inspected. All that’s left now is to make the purchase offer.

A purchase offer is a signed contract that indicates the amount you’re willing to pay for the house. Also known as a purchase agreement, deposit receipt, or offer to purchase and contract, the corresponding documents vary in accordance to the state requirements and local jurisdictions. Your Realtor® can provide you with a standard purchase offer form which you can simply sign and send to the seller.

In some states, only attorneys are allowed to prepare these real estate contracts. However, some states allow Realtors® to prepare these by using pre-printed and state-approved forms. It’s best to be diligent when working on these forms and to scrutinize every detail on every clause of the form. Some home buyers and luxury Realtors® in Point Breeze Pittsburgh PA work with an attorney who can review the forms.

Apart from the amount of your offer, the document also includes a date and time when the offer expires. Typically, the offer expires after a couple of days. In addition, the document also contains the terms of the offer - how you’ll finance the purchase, target date to close, what to do with home inspection results, and other clauses deemed necessary by the seller, your attorney, or the state.

Earnest money is also sometimes included with the purchase offer to show the seller that you’re serious about buying his or her property. This money can cost you anywhere from $500 up to 5% of the selling price.

Once all the documents are ready, your agent presents it to the seller’s agent. If they accept the offer, the seller signs it and returns it to you within the specified time limit. However, if they do not agree with the offer, the seller’s agent will either request to modify a few clauses or send you and your best Realtor® in Point Breeze Pittsburgh PA a counteroffer. You go back and forth until you reach an agreement.

Home buying can really be a long and challenging process. Fortunately, Realtors® can help lighten the stress off your back. Learn more about the process of becoming a homeowner by visiting http://www.SoldByConnie.net.

Call me, Connie Wolff at 724-779-1427 for all your real estate needs. As a trusted luxury REALTOR® in Point Breeze Pittsburgh PA, I provide all my clients expert solutions, one yard at a time.