PART III OF THE SERIES:  THE PROCESS OF BUYING A HOME IN BROOKVILLE, NY

Part I - http://activerain.com/blogsview/1196351/the-process-of-buying-a-home-in-brookville-ny-first-of-the-series-affordability

Part II - http://activerain.com/blogsview/1197973/the-process-of-buying-a-home-in-brookville-ny-part-ii

Now, we are getting serious.

Making the offer - You have done your homework.  You have talked to your lender and he/she has figured out how much mortgage you can afford.  You have found your dream home.  Ok, it is not yet your dream home but close enough.  The location is perfect and you can improve on what are there right now. 

Now, you have to make the biggest decision in your life.  How much do I have to offer for my dream house?  You do not want to lose the house.  Your best bet is to make the best offer you think the house is worth.  I have seen buyers lost their chance to own their dream home because they made a low ball offer.  I had a buyer once who made an offer of 40% below the asking price.  Apparently this was the third house they made an offer.  They lost on the other two and lost on this one too.  Offer within 5-10% off the asking price has a better chance of being accepted. 

In Long Island, all offers have to be in writing.  Real estate agents will provide you with their office form which in essence is almost the same for all agency.  It includes the name of the buyer, address, the property they are bidding on, the amount of the offer, down payment and amount of mortgage, the term and contingency if any.   The buyer has to fill up the form, sign and write in the name of the buyer's attorney and fax or phone number.  Negotiations can go back and forth until both parties agree on the terms and conditions. 

Once the terms are agreeable to both parties - the seller and the buyer- then we can move forward. 

 Copyright © 2009.  By Rosalinda Morgan, "The Rose Lady".  All rights reserved.. *THE PROCESS OF BUYING A HOME IN BROOKVILLE, NY-PART III*

If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please contact Rosalinda Morgan, "The Rose Lady". 

Ph - 516-385-0584

Email - linda@rosalindamorgan.com

Website - www.rosalindamorgan.com