Make An Offer

Your agent will advise you on a reasonable price, and will also prepare the contract, which can be lengthy. There are standard components you should expect and understand:

Allocation of Costs:

The contract specifies which fees the seller pays and which fees the buyer pays relative to transfer fees, title and closing costs, pest control, and other costs.

Condition of Property:

The seller discloses any known problems as well as a list of existing appliances and fixtures included in the sale.

Contingencies:

Both you, the buyer, and the seller may include contingencies that place conditions on the sale. For example, the seller may make the sale contingent on his or her ability to complete the purchase of another home. You can make your offer contingent on review of physical inspection, home-owner’s documents, or other property related issues that may not be known at the time of your offer.

Each state uses a standard contract. You can ask your agent for a copy so you (or your lawyer) can review it in detail prior to making an offer.