Once you have found the right property, the next step is to make a purchase offer to the seller.  Here are the steps you should follow;

Step 1 - Determine the price you want to offer

• The price the seller is asking may or may not reflect realistic market value.
• The best way to determine market value is with a Comparative Market  Analysis (CMA) showing similar properties that sold recently, those that are currently active on the market and those that are currently active on the market and those that failed to sell.

Step 2 - Decide on Financing

• Review your loan approval with your loan officer to make sure you are qualified to make the offer
• Review the loan programs that are available and decide which best fits your needs.

Step 3 - Decide on other issues that are important

• Items of personal property that you want to include with the house.
• Warranty, Inspections, repairs or other home enhancements by the seller.
• Closing date and possession.

Step 4 - Present offer to Seller

• Seller will have three options: accept your offer as it is presented; reject it completely; or propose adjustments to your offer (counteroffer)
• If there is a counteroffer, you can choose whether to accept it, reject it or counter it.

Step 5 - Accepted Contract

• Once your offer is accepted you are officially under contract
• Appraisal is ordered, title search is ordered, inspections are ordered, and official loan applicaiton is made.

If you have questions on buying a home or would like to receive a Free Home Buying Handbook, please e-mail me at DelawareMortgages@yahoo.com

John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage, Inc.

302-703-0727 Office

www.DelawareMortgageLoans.net