What Decisions are there to Make in a Wisconsin Offer to Purchase ?

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker
https://activerain.com/droplet/52Dx

   As Wisconsin Broker Associates we have had Relocating Buyers and Sellers as a part of our practice ....both through relocation companies, directly with employers....and sometimes individual buyers and sellers moving to or from State of Wisconsinthe Badger state.  Every state does things a little differently...the paperwork required...the provisions of a contract, etc.

    When we work with Buyers because we are lifetime residents of  the Badger state. we can tell them lots of details about the area from their expected travel times to employment to the entertainment, cultural and sports we have to offer...the school districts...the shopping..how one area or sub division differs from another,  suggested lenders, inspectors and contractors should they wish to make changes to the house that they want to "make their own."   Our tours are very detailed answering all the questions that are typical for people who are relocating to southeastern Wisconsin. 

   When the time comes, we also let them know that there are variables to be considered in the offer to purchase and they may wish to give those some thought before we meet to write the offer.

   Lots of the offer to purchase is "legal boiler plate" language which echoes the laws, your rights  and the Sellers' rights and obligations in the sale. 
 Here are the variables that will be decided :
 
    - Offer price  (We typically are buyers agents and have furnished a valuation )
 
    - Amount of Earnest Money to deposit
                                                                  (This is applied to your down payment and held in the
                                                                   trust account of the listing broker payable within 3 days
                                                                   of offer acceptance and we will give you instruction or
                                                                   deposit it for you at the branch office giving both you                                                                           and the bank copies of the receipt.
                                                                    We indicate typical amounts in  a price range.
 
 Inspection - Typical allowance time is 15 days - we always try to schedule as soon as soon as 
                      possible, David will attend with you or if you are unable to attend, will go through the
                      inspection with you which is highly detailed including pictures.  Within this 15 day
                      period we also have to get back to the Sellers with any items that may be found to
                      be in need of repair or replacement or in need of specific evaluation by a
                      tradesperson such as HVAC, plumber or electrician. 
                      Sellers will be required to furnish lien waivers for aany work done 
                      typically 72 hours prior to closing.
 
Testing - The only additional testing typically requested and suggested is a radon test if a
                   mitigation system is not already in place.
                   A mitigation system is installed at the Sellers expense and a test supplied post
                  installation to verify the function of the system.
 
Warranty - If a warranty is not included as offered by the Sellers, we write as part of the offer,
                    that they include coverage of a policy of not less than a year at their expense
                    covering all major mechanical aspects of the home.
                 
Inclusions/Exclusions -  Provided by the Seller in the listing - if there is anything not
                                               listed you wish to include or they wish to sell, this iis typically
                                               done outside the offer to purchase.
 
Closing date:  This is typically 40 -45 days 
                         from acceptance.  We  also check with the listing agent 
                         to verify the Sellers' timetable.
 
Timing for Acceptance - This is typically a minimum of 24 hours. We always check with the
                                                               listing agent to be sure thie time frame works for all
                                         parties. 
 
    Happily ever after  If you or anyone you know is looking to relocate to or from anywhere in southeastern Wisconsin,
hire the Hansons, experienced agents in relocation. We  are honored to be of service. 
Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Ambassador
1,614,090
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thank you very much in sharing your local information with us today.

Mar 31, 2017 06:56 AM #1
Rainmaker
3,430,267
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning, Sally and David -- the detailed information you provide is important to any buyer.  Most people don't have extensive knowledge of the process but it's something that we experience on a daily basis so setting the expectations makes for a better transaction.   

Mar 31, 2017 07:11 AM #2
Rainmaker
3,228,594
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

No doubt about it, The Hanson's are the Realtors to hire to any buyer moving to Southeastern WI! 

Mar 31, 2017 08:04 AM #3
Rainmaker
2,319,002
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Sally: The more information buyers are armed with, the better real estate decisions they will make. Smart move to provide them with details they can use.

Mar 31, 2017 09:29 AM #4
Rainmaker
4,162,415
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sally, there are quite a few items to decide on when writing an offer.  Glad they have you to guide them through this process.

Mar 31, 2017 11:23 AM #5
Ambassador
4,072,552
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Sally and David

You clearly know all that buyers need to be familiar with to be successful in your market, whether relocating or moving around the corner! The better preared they are in advance, the more quickly they can make a decision and offer on the home they love and do so successfully.

Have a great weekend!

Jeff

Mar 31, 2017 02:19 PM #6
Ambassador
3,860,378
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally and David that would make a great hand out to give to Buyers.

Mar 31, 2017 02:51 PM #7
Rainmaker
3,238,082
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sally & David the nuances might differ state to state, region to region, but the main message is identical all over the country, Endre

Mar 31, 2017 10:07 PM #8
Rainmaker
2,791,696
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Having multiple options is always a good thing in this case or in cases like these.

Mar 31, 2017 11:39 PM #9
Rainmaker
1,471,160
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I like your Happily Ever After graphic! There are definitely many variables in making offers.

 

Apr 01, 2017 03:49 AM #10
Rainmaker
1,995,939
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Sally and David - you give good advice to your buyers so that they can make the most informed decisions.

Apr 01, 2017 04:22 AM #11
Rainmaker
3,860,002
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Sally K. & David L. Hanson ,

Congratulations on a well deserved featured post! Every state practices Real Estate a little differently and the detailed information you provide is important to any buyer. The more information buyers are armed with, the better real estate decisions they will make. Great hand out for any buyer!

Apr 01, 2017 05:36 AM #12
Rainmaker
3,054,229
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Sally K. & David L. Hanson "Warranty - If a warranty is not included as offered by the Sellers, we write as part of the offer, that they include coverage of a policy of not less than a year at their expense covering all major mechanical aspects of the home."

Right on target - and - re-blog!

Apr 01, 2017 06:05 AM #13
Rainmaker
2,486,032
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I consider this post an effective calling card of Sally K. & David L. Hanson 

Apr 01, 2017 07:36 AM #14
Rainmaker
1,240,821
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Excellent information, Sally K. & David L. Hanson ... while much of the process may be considered "boilerplate" ... you remind your readers as to why it's so very important and valuable to seek and use a LOCAL agent when hoping to buy.  The well of details, tidbits, time savers, info on local rules/regulations/laws and way of conducting transactions ... simply cannot be overlooked or overvalued.  You prove why you're the one to call in southeastern WI ...

Gene

Apr 01, 2017 12:11 PM #15
Rainer
274,619
Stephen Turner
Gemcraft Homes (TriCorner Realty) - York, PA
The BIG Guy of NEW HOME SALES

Thanks for compiling them all in one place. This is also handy for negotiations. Too many times people get caught up trying to negotiate prices when there is so much more to negotiations. Working for Builder's who don't budge on price as "they don't negotiate", yet the reality is we negotiate on terms all the time!

Apr 01, 2017 12:39 PM #16
Rainmaker
569,560
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

There are many factors to consider and it's good to give the Buyer's time to think these things over. Well done, Sally K. & David L. Hanson 

Apr 02, 2017 06:33 AM #17
Rainmaker
4,797,872
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Sally and David.  Excellent information in this post that shows just why buyers and sellers should seek the assistance of expert Realtors.

Apr 03, 2017 04:48 AM #18
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
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