What is inside an offer to buy a home?

 Our buyer series for this month continues. This week we ask, what is inside an offer to buy a home?

Well the most amazing thing is that there can be anything you think would be of value to the seller. You can include your dog in the offer or buy all the furniture in the home.

But on a serious note, the following things are what you as a buyer should be thinking about;

a. How much should I offer for the house? Understand why you think the amount you are offering is fair. You will include the Earnest money deposit that come with your offer.

b. What inspections should I do on this home? Home inspection, radon inspection, pest  inspection, roof  inspection? Should I do all of them or may be select a few to do? 

c. If you are using a loan; Terms of your loan are included and the amount of your deposit on the loan is included. This is important because your offer communicates your desire for the home and your financial position. The seller is interested in only one thing-if you can buy the house.

d. Should I have the appraisal done on the home?-if you are getting a loan, lender will require it. The appraisal is intended to make sure the true value of your home is in the same neighborhood as the price you are paying to buy the home.

e. What title company should I use to prepare the paper work for buying the home? The title company will make sure the seller is the rightful owner and that the title of the home and all the rights can be transferred to you the buyer.

f. What day should I choose to complete all the paper work? - called closing. Easiest is to estimate 30 days from the day you turn in your offer. But it can be a week, two weeks if you think everyone involved can meet the deadline. 

The bottom line is at every juncture a question is raised -  a decision point. Your realtor will help you with all of the decision points. There is never a right or wrong.