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Once you have chosen the home of your dreams, it is time to make an offer. I
will present your offer on your behalf and negotiate the offer to your best
interest, to either the listing agent or the seller or both, depending on the
circumstances. You will not have to concern yourself with being present at the
offer. This is a time of delicacy and diplomacy. This is where you will want my
experience and expertise to take over. Before this meeting however, several
things should occur.
First, I will advise you if the price is good or if this property is priced
high. One way to determine this is to search the comparable properties around
your selection to determine their selling price. Another way is that I am
intimately aware of the neighborhood and it’s values. (Either way, your peace
of mind can be assured by your eventual appraisal, endorsing the price).
Second, if you have not already done so, you will need to provide me with a
letter of pre-approval from your lender (pre-qualification may also be
acceptable, but not as strong as pre-approval). This will be necessary for the
seller to respond to your offer.
You will also need to write a personal check for earnest money. I will take it
to the offer to demonstrate you are a sincere and solid borrower. The amount of
the earnest money deposit should be at least $1000. Or 1% (which ever is more)
of the asking price. I will place the check in the office and only deposit it
after your offer has been accepted. Washington State Law requires this check to
be deposited the first business day after mutual acceptance, unless both parties
agree otherwise in the contract.
We will prepare the Purchase and Sale agreement together, at which time we
determine all of the terms and conditions of the sale. This agreement is then
given to the seller and their agent for consideration.
All transactions vary in terms of when you can expect a reply. I will present
the offer as quickly as possible, hopefully before another buyer can enter into
the equation. I will push for a response just as quickly, to avoid another buyer
entering into the picture before the seller has had a chance to respond to your
offer. Our offer has much more strength if it is the only offer on the table.
The important thing to know and understand is that an offer is not binding or
done until all parties have agreed to all the terms, which can take several
counter offers, spanning many hours, or days. Once both buyer and seller have
agreed to all terms and the buyer has signed the receipt line then the
transaction is considered “signed around”. Until that moment, other buyers
or offers can enter into the picture, jeopardizing your position. For that
reason, speed and timing is of the essence.
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(509)
981-1001