Have you been able to help the buyer’s team of you, your lender, and your Realtor understand your situation? If so, you will have saved yourself time and given your team confidence in knowing they aren’t missing anything from you that may cause delays or even forfeiture of the loan, the home, and/or your earnest money. Being prepared is a crucial advantage to getting ready to buy a home in Arizona.
Entering into negotiations with an offer may result in an accepted contract so be sure this is the home you want to buy. Your offer is your first step in negotiating a sales contract with the Seller. How does the home compare to other properties you may have seen in the neighborhood? All you have to do is put the home in one of three categories – average, above average, or below average. Always put yourself in the Seller’s shoes and imagine his or her reaction to everything you include. Your goal is to get what you want and imagining the Seller’s reactions will help you to attain that goal.
In an offer to purchase real estate, you include not only the price you are willing to pay, but other terms as well. This includes how you intend to finance the home, your down payment, who pays what closing costs, what inspections will be performed, time lines, whether personal property will be included in the purchase, terms of cancellation and how to settle disputes, should they occur. Your loan may limit you to what you can ask the seller to contribute as well. This is just a short example of what could be included in an offer.
Buying a home is a major event for a Buyer. It will affect your finances more than any other purchase or investment in your lifetime. The Seller makes plans based on your offer that will affect their finances too. However, it is more important than just money. In the amount of time it takes to write an offer, you are making decisions that will affect how you live for years or even a lifetime.
This sounds dramatic…sounds like a cliché’ but, Real estate professionals all say it because it’s true… Shop lenders and choose one before you make an offer. Know your loan limitations before you make an offer. It’s all about your financing and your lifestyle! Be comfortable before you start shopping for your home. Being prepared is a crucial advantage!