What You Expect Once You Find a Home

Once you have found the perfect home, the work for your Realtor® is just beginning! Here is what to expect when you begin to write your offer:

Writing the offer :

• Get as educated as possible - your Realtor® should provide you with the current tax records as well as a CMA (comparative market analysis) letting you know what similar homes are selling for in the area.
• Decide on the price - once you have this information you need to decide what you feel is a fair offering price. It may be what the seller is asking, or it may be less.
• Closing Costs - in your offer you can ask that the seller help pay some of your closing costs. You need to know what your expected closing costs are (they will differ depending on what type of loan you may be getting).
• Home warranty - you also need to discuss with your Realtor® if you want a home warranty to be provided by the seller. These warranties cover things like plumbing, electrical, & heat pumps for one year after closing. All warranties are different so you should read the information carefully to determine if you want to ask for one.
• Blending the three – your offer should be a blend of what you feel is an appropriate sales price, what you need to have covered in closing costs, and whether you want a home warranty. Your agent will be better able to advise you as to what is considered reasonable. For example, if you NEED to have your closing costs covered, you may consider offering a closer to actual list price.
• Presenting the offer - after the offer is written, your agent will present the offer to the seller’s agent with a deadline of when you want to hear back from them.
• Counter offers - a counter offer is quite common in contract negotiations. What you then must decide, with the help of your Realtor, is whether you feel the counter offer is fair. If you do not like the counter offer you have the choice to either counter back to the seller or to withdraw your offer.

Other things to consider :

• Closing date - you need to decide when your closing date should be. A flexible closing date could make your offer more attractive. This is when you will sign the paperwork and the house will legally become yours.
• Settlement agent - you need to choose a closing representative for yourself to conduct the closing. Typically it is either a lawyer or a title company. You should consider fees that will be charged, but you should also consider a settlement agent who offers comprehensive services, is less likely to cause a delay in closing, and is less likely to have problems arise.