Once you decide upon the home that you want, your next step is to negotiate about what to include in the offer or purchase commitment.
In most states, your Realtor will help you determine what to say or even say it for you. Some states may require an attorney to take part in the transaction.
This is the document that you will present to the seller, and where you offer a price and any conditions you have for the purchase. That way, you will have time to think about what you want your agreement to cover.
Be sure to include in your agreement a stipulation that the purchase depends upon a satisfactory professional inspection. If you have any doubts about the results of the inspection, ask for another one.
This date may change if all the necessary paperwork is not finished. The offer also states which party (buyer or seller) will pay for which settlement costs, the type of loan you are applying for, and the interest rate.
Keep in mind that earnest money or a good faith deposit is required when the offer is accepted. This is a cash deposit towards the down payment and shows your commitment to buying the home.
Ask your real estate agent how much money is needed for a deposit and use your pre-qualification certificate to back up your offer.
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