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Making the Offer To Purchase You've found it - your "dream" house! You want to buy it. Now what? NEGOTIATING THE PURCHASE You make an offer by submitting a signed real estate purchase agreement with the type of financing You desire. This is it. This will be the sales contract if the seller accepts it. Once you and the seller sign the paper, you are agreeing to the contract conditions. Before you sign it, read it carefully and make sure you understand every detail. Ask questions. Verbal agreements must be written into the contract. OFFERS AND COUNTER OFFERS Your REALTOR® will prepare a purchase contract according to your instructions and will take the offer to the listing REALTOR®. In some cases the seller will accept it as written, or make "counter offers" on unacceptable aspects, or reject it. The selling REALTOR® will then bring back the offer to purchase to the home buyer, who can accept it, counter the counter offer, or reject it. The offer to purchase becomes a contract when all parties have initialed every counter, signed the offer and received notice. When you sign the offer to purchase, you also will have to submit a deposit to show that you are earnest about your desire to buy - appropriately called "earnest money". CHECKING YOUR CONTRACT Purchase agreements differ, depending on circumstances, but there are several provisions you may want to include. Read the contract and make sure you understand what you are signing. You may want to consider having an attorney review your contract if it seems to complicated for you to understand.
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