| Making an Offer Once you have chosen the home of your dreams, it's time to make an offer. I will present your offer on your behalf and negotiate the offer to your best interest. Either to the listing agent, seller or both, depending on the circumstances. You will not have to concern yourself with being present at the offer. This is a time of delicacy and diplomacy. This is where you will want the experience and expertise of your agent to take over. Before this meeting, several things should occur. First, I will advise you if the price of the property is good or if it is priced high. One way to determine this is to search the comparable properties around your selection to determine their selling price. Second, if you have not already done so, you will provide me with a letter of pre-approval from your lender. This will be necessary for the seller to even consider your offer, or accept your offer over another. You will also need to write a personal check for earnest money. I will take the check with me to demonstrate to the seller that you are a solid borrower. I will keep possession of the check and only deposit it after you offer has been accepted. Washington State Law requires this check to be deposited the first business day after mutual acceptance, unless both parties agree otherwise in the contract. We will then write up the actual purchase and sale agreement determining all the terms and conditions of the sale. This agreement is then given to the seller and the seller's agent for consideration. All transactions vary in terms of when you can expect a reply. I will present the offer as quickly as possible, before another buyer can either enter into the situation as competition. I will push for a quick response to avoid another buyer entering the picture. The important thing to know and understand is that an offer is not binding or "done" until all parties have agreed to all terms. The buyer and seller both have to sign the offer before it is a legal and binding contract. Until that moment, other buyers or offers can enter into the picture, jeopardizing your position. For that reason, speed and timing is of the essence. |