BUYING

ALL ABOUT YOUR OFFER

ALL ABOUT YOUR OFFER

The written offer you submit to a seller becomes a binding sales contract if the owner accepts. Your Kentwood agent will ensure that your offer is complete and serves your best interests.

YOUR OFFER INCLUDES:

 

  • Address and legal description of the property

  • Price you are offering to pay for the property

  • Terms such as "all cash" or "subject to you obtaining a mortgage for a given amount"

  • Anticipated closing date when title will be transferred

  • Earnest money accompanying the offer and cash-at-closing balance required, as well as the form it is in, i.e. check or promissory note

  • Contract provisions stating which party is responsible for the title insurance, survey, property inspections and similar expenses

  • Type of deed to be conveyed

  • Other requirements specific to your sale. These might include special inspections, tax advice, or occasionally, attorney review, disclosure of specific environmental hazards, or other state-specific requirements

  • A provision that the buyer may make a last-minute walk-through inspection of the property just before closing

  • A time limit after which the offer will expire

  • Contingencies that state the sale will only go through if certain conditions are met

  • Common contract contingencies include the buyer obtaining specific financing from a lending institution, a satisfactory report by a home inspector, and an appraisal for at least the value of the contracted price