Making Offers

You've narrowed your search down to just one or two properties. You have your pre-qualification letter in hand. You can see yourself living or investing in your new home and want to put it under contract before someone else does.

What do you do now?

Time to make an official offer to the seller. Oh no you say? Paperwork, Contracts, Counter offers!  Yuck! No, no. It's not that bad. I used to think the same thing before I had someone sit down with me and explain each item one by one. Not only that, with electronic signatures it's super easy and we don't have to scan, fax, print, etc. every time there is one little change or update.

First, you need to know the maximum price you will pay for the property. I can help you figure that number out by finding the recent sold properties nearby, estimating the amount of repairs that need to be done and a host of other criteria that need to be factored in.

Once you know your maximum number, we will begin with an offer that is less than that. Well, in most cases. If it's your ideal home and there are not any or just a few repairs that need to be done, a maximum offer can be justified. If not, we will determine together what the first offer price will be. We will also determine the timeline of the agreement, whether or not we want the contract to be subject to inspection and/or appraisal and other items that are in the offer agreement.

Depending on what type of sale we are working on, foreclosures, short sales, standard sales, etc., there could be some other documents that need to be filled out as well. Don't worry, they mostly reiterate what the offer agreement states. Sometimes if it's a Fannie Mae sale as an example, it is required to fill out a primary ownership document stating that you want to live in the property. If you don't want to live in the property, we just don't fill that document out. No big deal, right?

Along with the offer, we would also submit a proof of funds statement either from a lender or a bank statement that says you have the money lined up to close. We will include a copy of the earnest money deposit to make the offer real. Finally, we will submit any of those other documents I mentioned earlier.

Then we wait for acceptance or a counter. That's it. And I will walk you through it every step of the way.

Let me know how I can help you make an offer on the home you want today.

Chris Kavanagh - Sales Associate
Watermark Real Estate Group
843-655-0711 (cell)
843-353-1990 (fax)
ckavanagh@watermarkagents.com
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PS. Referrals are always appreciated. Ask your friends and family to visit MyrtleBeachHouseBuyers.com or give me a call anytime.