Purchase Agreement - HomeBuyers

Once we find the house that you really like, the initial step will be to make an offer to purchase the home in which we will formalize this offer in the form of a contract or purchase agreement.  We will cover such points as purchase price, closing dates, financing terms, inspections, etc.  This offer must be in writing and accompanied by an earnest money check to show good faith. 

The offer will include information including:

•ü      The amount you are offering to pay

•ü      Financing terms, including closing costs

•ü      Any personal property specifically included or excluded

•ü      Closing date

•ü      Inspection requests

•ü      Any contingencies or further conditions

When the seller receives an offer he has three options:  Acceptance, Rejection or Counter Offer.  Most sellers choose acceptance or if they wish, to ask for terms more to their liking, we'll write a counter offer.  The sales associate that listed the home will present the offer and advise the seller of the options available.  If the counter offer is written, then the purchaser has the choice to accept, reject or write a new offer.  This give and take can continue indefinitely or until terms are agreed upon or one party chooses to end negotiations.

If the seller does not accept the initial offer, further negotiations can generally reach terms agreeable to both Buyer and Seller.  If the seller accepts and signs the initial purchase agreement, this document is a legal contract and is a promise of performance by both buyer and seller.