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Financing
| Find a Home | Make
Your Wish List | Steps to a
Successful Purchase | Create
the Offer to Purchase | Negotiate
with the Seller Before the offer to purchase is created, it is very important that you have been at least pre-qualified or better yet pre-approved by a lender. This is one of the best negotiating tools a buyer can have. It shows the seller that you are financially able to purchase the home. After you have found the right home, it is time to prepare the offer. In California, the offer to purchase covers all facets of the purchase process, such as:
Once you make the Purchase Offer, I present it to the Seller and their Agent. The Seller may accept it, prepare a Counter Offer, or reject the offer. Once the offer is accepted, it is a legally binding contract for the Seller. But the Buyer can cancel if he or she discovers problems with the property during the inspection process. You must make a deposit at the time you create your Purchase Offer. The deposit check is made out to a title company and held at the real estate office until your offer is accepted. The deposit is part of your down payment. If your offer is not accepted, the deposit check is returned to you uncashed. The amount of the deposit is up to you, but is usually in the neighborhood of $1,000 for a moderate-priced home, $5,000 for a high-priced home, and perhaps $500 for a mobile home or low-priced condo. Next Step... Negotiate with the Seller
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