All About Your Offer

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Steps to Buying a Home

Steps to Buying a Home

Our 10 steps to buying a home

Common Real Estate Terms

Common Real Estate Terms

The meaning of terms commonly used during the buying and selling process

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Whether you’re thinking about listing a house, beginning your search for a new home,...

The written offer you submit to a seller becomes a binding sales contract if the owner accepts. Your Kentwood agent will ensure that your offer is complete and serves your best interests.

Your offer includes:

  • Address and legal description of the property
  • Price you are offering to pay for the property
  • Terms such as "all cash" or "subject to you obtaining a mortgage for a given amount"
  • Anticipated closing date when title will be transferred
  • Earnest money accompanying the offer and cash-at-closing balance required, as well as the form it is in, i.e. check or promissory note
  • Contract provisions stating which party is responsible for the title insurance, survey, property inspections and similar expenses
  • Type of deed to be conveyed
  • Other requirements specific to your sale. These might include special inspections, tax advice, or occasionally, attorney review, disclosure of specific environmental hazards, or other state-specific requirements
  • A provision that the buyer may make a last-minute walk-through inspection of the property just before closing
  • A time limit after which the offer will expire
  • Contingencies that state the sale will only go through if certain conditions are met
  • Common contract contingencies include the buyer obtaining specific financing from a lending institution, a satisfactory report by a home inspector, and an appraisal for at least the value of the contracted price

 

Where Do I Go Next?

Contact Us

Contact Us

Whether you’re thinking about listing a house, beginning your search for a new home,...

Steps to Buying a Home

Steps to Buying a Home

Our 10 steps to buying a home

Common Real Estate Terms

Common Real Estate Terms

The meaning of terms commonly used during the buying and selling process

Property Bin