The Offer Process

In your offer, you will include the items shown under What Makes Up An Offer which include purchase price, contingencies, earnest money deposit, and closing date. However, there are other important items to consider to protect your new investment!

Disclosures from the Seller: You have looked at the property and like what you see, but just like a car, every home has a history! The Seller has years of knowledge about their home and there may be some things you want to find out about. Therefore, there will be certain disclosures that you will request from the Seller as a part of your offer. You will want the Seller to disclose any adverse condition that may have a substantial impact on your decision to purchase the home. This would include any problems with the house, a noise zone, or other types of hazards. Obtaining these types of disclosures should always be a part of your offer!

Condition of the Property: Your offer to purchase should include a clear request of the standards required when you take possession. Some items in your offer you might want to include are that the roof does not leak, the appliances work, the plumbing does not leak, that there are no broken or cracked windows, the yard has been kept up, and any debris has been cleared away.

Inspections You Should Require: It is always recommended that you have a professional go through the home to seek out potential problems. There are professionals, known as Home Inspectors, that can provide this service. They look at detailed areas of your home such as the electrical systems, heating systems, air conditioning, sprinklers, and more. They provide you a list of each item inspected and any questions they may have or problems noted. These are not a list that the Seller is expected to repair, but a list for you to review and approve before removing your contingencies to purchase. If you do not approve an item, you may negotiate with the Seller as to who should pay for the needed repairs of certain items. Safety issues are the commonly requested repairs made of a Seller. If you do not approve of the condition based on the report, you can option your contingency rights and cancel your offer to purchase. It is important to order this report as soon as possible once your offer is accepted. It may take ten days to receive it and you will want time to review any items noted.

Final Walk-Through Inspection: Prior to your closing date, your should revisit the property to ensure that it is in the condition you required in your offer and to see that any required repairs have been performed. Do this no sooner than five days before your closing date. Your right to a Final Walk-Through Inspection should be stated in your original offer to purchase.