| Before you can buy the house of your dreams, | | | | information as to your pre-approval or |
| there's one very important document that you need | | | | pre-qualification for a real estate mortgage loan. |
| to make and submit to a home seller. It is the offer | | | | The amount and form of your earnest money |
| to purchase real estate or purchase offer which | | | | deposit. This serves as a proof that you are serious |
| usually serves as the sales contract between the | | | | in purchasing the property. It can either in be in the |
| buyer and the seller. Without this and the signature | | | | form of a check payable to a third party who is |
| of both parties involved, the transaction cannot be | | | | responsible for placing the amount in a trust account |
| considered legal. | | | | until the completion of the sale. The deposit can be |
| A standard purchase offer form may be used in all | | | | credited in full towards the purchase price. |
| states in the U.S. However, you can always make | | | | Expected date of transferring title and possession of |
| your own offer containing the special conditions | | | | the property. |
| appropriate to your needs. You just need to include | | | | Responsibilities of the seller in terms of a clear title |
| all the required details to push through with the deal. | | | | transfer and deed type. |
| It is truly essential that you fully understand the | | | | Information as to which personal properties are |
| contents of a purchase offer before filling it out and | | | | included in the sale. |
| submitting it to the home seller. | | | | Time frame for acceptance of your offer. This |
| In making your offer to purchase the property, be | | | | stipulates the amount of time you are giving the |
| sure to consider several vital factors like your financial | | | | seller to accept your purchase offer after which it will |
| capability, the condition of the home you want to | | | | expire. |
| buy and the prevailing market status. Your financial | | | | Provisions for a final home inspection before closing. |
| resources play an important role in determining how | | | | Requirements that may be specific to your state or |
| much down payment you can provide, what type of | | | | location are also included in the form. |
| financing you will use and your ability to shoulder the | | | | Special clauses or what are known as contingencies |
| closing costs. | | | | that need to be met to close the transaction are |
| Below are some of the basic information that you | | | | written above the signature block. These serve as |
| need to provide in a real estate purchase offer form. | | | | protection for the buyer should problems arise along |
| Full names of the buyer and the seller. Of course, this | | | | the way. Some of these contingencies include terms |
| has to be identified to make the agreement | | | | on who will pay the closing costs, the date the |
| enforceable. | | | | owner of the property should move out, the date of |
| Address and legal description of the property. | | | | transferring title and possession, financing terms as |
| The price you are willing to pay for the house. | | | | well as home inspection. |
| Terms of payment and the down payment amount. | | | | As always, never fail to do your research to be able |
| This specifies how you will finance the purchase of | | | | to achieve a smooth and successful transaction |
| the property if it's through a mortgage loan or other | | | | process. |
| options. It would also benefit the seller if you provide | | | | |