Information needed to make an offer

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Things I need to fill out an offer:

 

What legal name do you want on the contract?

 

Individual email addresses – I need this for electronic signatures if we use them.  If you do not have individual email addresses, we will figure something else out.

 

What purchase price do you want to offer?

 

How much earnest money do you want to put with the offer? –  Usually $1,000.00.   This is then applied to the purchase of the house.  I keep it until the offer is accepted, then have 5 days to get it to the other Realtor.  It will be deposited at that time. You will get it back if the offer is not accepted

 

How much money do you want to put down on your loan? – Usually 5% for conventional loan and 3.5% for FHA loan.  The more you put down the less your payments will be.  It takes 20% to get rid of PMI insurance. (Insurance on your loan)

 

How long do you want to give them to give you an answer? – Usually a day or two from when we make the offer

 

Type of loan – Conventional, FHA, VA, USDA

How long – usually 30 yrs

Interest Rate

 

Are you pre approved?

What Bank?

Who is the contact person?

 

If paying cash, we will need proof of funds

 

Do you want to ask for closing costs?   -This is the cost of the transaction it includes things like title insurance, inspection, closing fee, recording fee, tax, appraisal, credit report……

 

When do you want to close?  – Usually it is about 30 days from contract date.

 

Possession Date – Usually ask for the same date as closing.  Sometimes the people need a couple of days to move out so we extend it.

 

Do you want the seller to purchase a home warranty?  I always ask for this.  It will cover built in appliances, sewer and more depending on which company it is through.  Usually costs between $450 to $500.00.