Congratulations! By this step you might have found the home that feels like the right fit. Now it’s time to enter the sales process, which can be one of the most exciting—and sometimes overwhelming—phases of buying a home. This post will walk you through the essential steps, so you’ll be ready to move forward with confidence.
Making Your Offer Your offer is more than just a price—it's a comprehensive proposal to the seller:
1. Offer Price: Work with your Neighborhood Specialists/ Realtor to come up with a competitive offer that reflects the market value and upgrades in the home.
2.Contingencies: Common contingencies include financing, home inspections, and appraisals. These clauses protect you as the buyer, allowing you to renegotiate or withdraw your offer if certain conditions aren’t met.
3. Response Time: Your Neighborhood Specialist/Realtor will help set an appropriate response time for the seller to accept, reject, or counter your offer. Keep in mind that some negotiation may occur here.
4. Save with Special Promotions: Many builders and lenders run special promotions or give incentives to make your dream home more affordable and their prices more attractive!
Understanding Earnest Money shows the seller that you’re serious about purchasing the home and is typically 1-3% of the purchase price:
1. Purpose of Earnest Money: This deposit secures your interest in the property and is held in an escrow account until closing. If you back out without a valid reason, you might lose this money, so be mindful of contingencies!
2. What It Secures for You: Earnest money generally counts toward your down payment or closing costs, giving you a head start on those expenses.
Each step of the sales process helps ensure you’re making a well-informed investment. With these insights, you’ll be ready to proceed through this stage confidently!
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