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Making A Real Estate Offer
So you found a house you want to make your home, you can work with Sherrie to develop and make a real estate offer. In the offer, you should specify how much you're willing to pay. State when the offer expires, and suggest a closing date for the transaction. You can also propose some conditions on the offer. Some common types of conditions are:
- Getting a suitable mortgage
- Selling your current home (the seller may continue to look for a buyer, but will give you the right of first refusal)
- The seller having title to the property (the title company will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions
- If you still have any doubts about the home's safety and construction, you may wish to make the purchase conditional on an inspection by a qualified engineer
- Any inclusions - basically, what stays and what goes
Presenting A Deposit With Your Offer
You will need to present a deposit along with your offer. An appropriate deposit will show your good faith to the seller. The seller's agent is bound by law to bring all offers to the seller's attention.
When Your Offer Is Accepted
After your offer is accepted and all the conditions are met, the offer becomes binding on both sides. If you walk away from the deal at that point, you may lose your deposit. You may also be sued for damages. Therefore make sure you understand and agree with all of the terms of the offer before signing.
The Final Stage
Before the property can formally change hands, there are still a few things to do. On or before closing day, Sherrie and the seller's Realtor will arrange to transfer title of the property from the seller to you. The mortgage money will be transferred to the Title Company's trust account, and then to the seller, At this time, be sure to check with Sherrie to see that everything is as stated in the offer-to-purchase. Once you're satisfied and the keys to the front door are in your hands, there's nothing else to say, except...welcome Home!
Contact Sherrie For More Information!
 Contact Us:
Contact Sherrie for more information on this topic or to view current MLS real estate listings in the following Michigan Cities: Plymouth, Canton, Livonia, Westland, Northville and surronding area.
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