Time for nervous anticipation. You've found that home you want and now is the time to make an offer and start the process of home ownership. You know you need to act fast, yet you want to be as calm and objective as possible. The expertise that a Berkshire Hathaway HomeServices Troth, REALTORS® sales professional can give you at negotiating time is priceless.
Be prepared for lots of paperwork and lots of terms that you might not be familiar with. Don't let the pressure get to you. Remain patient and rest assured that your Berkshire Hathaway HomeServices Troth, REALTORS® sales professional will guide you through the process and act as your advocate and liaison with the seller and seller's agent.
Once your offer is accepted, be prepared to seal the deal with earnest money. Earnest money is usually a percentage of the home's purchase price that indicates you are serious about the purchase and indicates your good faith to the seller. It's generally applied to the purchase price when you complete the purchase, but may be forfeited to the seller if you fail to complete the purchase.
Many first time buyers are taken by surprise when it comes to the earnest money especially if they have to make an offer quickly. You should have this amount available in your checking account so you can write out an earnest money check on the day your offer is accepted by the seller.
Talk to your Berkshire Hathaway HomeServices Troth, REALTORS® sales professional to determine the amount of earnest money deposit you should be prepared to make based upon your target home price.
Contingencies are an important part of your purchase agreement. They offer you the confidence that you will have the ability to perform the proper inspections of the property, make sure the property will appraise for the purchase price and that you will qualify for your financing.
Your Berkshire Hathaway HomeServices Troth, REALTOR® will discuss the role that contingencies play in your offer and the protections they afford you.
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