Purchasing a Home
You scoured the newspapers, told friends you were interested
in buying a home, spent weekends looking at homes with
your realtor and then, you find your potential home.
You are pleased with the neighborhood, have viewed it
at different times, day and night.
You have examined the outside of the house for the
quality of the brickwork and the solidness of the foundation.
You have toured the interior, looked for cracks in the
walls and ceiling, and then reviewed the woodwork and
paint. The size of the home is perfect for your growing
family and you are ready to make an offer.
You will make an offer through your real estate agent
or your broker. You can offer any price you’d
like for the house—below, at, or above the advertised
price. You also may choose to make your offer conditional
in various situations such as: actually receiving mortgage
approval; the building inspector offers a satisfactory
assessment of the home; the house being taken off the
market if accepted, or other reasons that may concern
State and federal laws require all real estate agents
treat their buyers fairly. For instance, if the seller’s
agent offer home purchase related services such as:
mortgages, escrow, insurance or survey services, he/she
cannot make any of these services conditional for passing
on your purchase offer.
Once you have made an offer, even if you have offered
the asking price, you must realize that you are probably
not the only person to have presented an offer. Some
buyers may have offered the asking price with or without
conditions. Remember, some conditions are more attractive
to sellers than others: a quick close and move in is
especially important to someone who already has a house
waiting in the wings.
Being able to move quickly could be just as valuable
to the seller as receiving the asking price.