The Buying or Selling Process
The Home Buying Process - Submitting an Offer
Once you have found the right property, the next step is to make an offer to purchase the home from the seller.
Determine the price you want to offer
Determine the price you want to offer
- The price the seller is asking may or may not reflect market value.
- The best way to determine market value is with a Competitive Market Analysis (CMA) showing similar properties that sold recently, those that are currently on the market and those that failed to sell.
- Your Steven Murphy Real EstateTeam sales professional will explain the estimated costs associated with purchasing the property.
Decide on Financing
- Your loan officer will review and explain the status of your loan approval.
- Your real estate agent will work with you and your loan officer to explain financing options and help you determine the mortgage plan that best fits your needs.
Decide on other issues that are important to you
- Discuss with your agent, the amount of “earnest money” deposit appropriate for the home.
- You may want to include personal property items in your offer.
- Home warranty, inspections, repairs or other home enhancements offered by the seller may be important to you.
- You may want to request specific closing and possession dates.
Your Steven Murphy Real Estate Team agent will present your offer
- The seller will have three choices: accept your offer as it is presented, reject it completely or propose adjustments to your offer (counter offer).
- If a counter offer is proposed, you may choose to accept, reject or counter the offer.
Once you have reached a written agreement with the seller, you will have a firm contract to purchase the home.
