|
When an
Offer is Made
1.PRESENTING THE OFFER
Be assured that as soon as I am aware that a written
offer to purchase has been signed, I will contact
you immediately. The timing may be inopportune but
it is usually best to move ahead rapidly to consider
the contract. Please note that when I call you, I
may or may not yet be aware of the terms of the
offer. When I have the contract in hand, I will
study it closely and review each of the terms and
conditions with you to your complete understanding
and satisfaction.
2.THREE OPTIONS TO CONSIDER When we consider the
terms of the contract, remember that you are in
charge. You are free to deal with the contract as
you choose, and I will be there to assist you.
Generally, there are three options available to you:
Accept the offer as presented.
I will convey your
acceptance and the home is SOLD!
Make a counter
proposal. Propose changes to the offer, i.e. price,
personal property, closing or possession dates, etc.
so that it is acceptable to you. Be aware, however,
that when you change anything, the buyer is
completely freed from the earlier commitment to buy.
I will convey the terms of your proposal and the
prospective purchaser may either accept, reject or
offer a new proposal. Reject the offer.
3.DELIVERY OF THE CONTRACT A copy of the finalized
contract will be delivered to both buyer and seller
by their respective real estate agents.
4.FINALIZING ALL CONDITIONS BUYERS FINANCING: If the
contract states that the buyer has a specific number
of days to secure financing for the home, it is his
responsibility to apply for and to secure a loan
commitment within that time period. The lending
institution must & verify that the buyer has the
ability to meet the monthly loan payment. They will
examine the buyers credit history, employment
records, etc., verify that the value of your home is
enough to ensure the safety of their loan. An
appraiser, assigned by the lender, will visit your
home to affirm that its value, based upon a study of
comparable homes, adequately secures the loan that
they are making to your buyer. The mortgage loan
underwriter will approve the loan based upon a
satisfactory review of the above information. After
the loan is approved, more legal work is necessary,
though you will have very little involvement in this
step. The
property title will be searched, title insurance
will be ordered and an updated survey of the
property may need to be ordered. If the property is
a condominium, the Association may be contacted.
When the paperwork is in order, the time and place
of settlement will be agreed to by all parties
involved. We will cooperate totally to insure a
smooth and timely closing. Prior to the time of
closing, the buyer may request a physical Inspection
of the home. The buyers may or may not be
accompanied by a property inspector whom they have
engaged at their expense. Keys will be delivered to
the buyer at the closing, or whenever possession of
the property has been agreed upon. At closing, all
documents finalizing the sale will be signed by all
parties and all funds will be disbursed.
MY RESPONSIBILITIES My responsibilities are not
fulfilled until the transaction is complete. I will
follow the transactions progress and inform you of
significant developments. I will do everything in my
power to work with your lender, accountant, lawyer,
etc. to ensure a timely and highly satisfactory
settlement for you. Know that, beyond the above, I
am here to answer any question and to resolve any
problem or uncertainty that you may have. I want
this to be a positive experience for you.
|
