All About Your Offer

Where Do I Go Next?

Steps to Buying a Home

Steps to Buying a Home

Our 10 steps to buying a home

Common Real Estate Terms

Common Real Estate Terms

The meaning of terms commonly used during the buying and selling process

Contact Kentwood City

Contact Kentwood City

Whether you’re thinking about listing a house, beginning your search for a new home,...

The written offer you submit to a seller becomes a binding sales contract if the owner accepts. Your Kentwood agent will ensure that your offer is complete and serves your best interests.

Your offer includes:

  • Address and legal description of the property
  • Price you are offering to pay for the property
  • Terms such as "all cash" or "subject to you obtaining a mortgage for a given amount"
  • Anticipated closing date when title will be transferred
  • Earnest money accompanying the offer and cash-at-closing balance required, as well as the form it is in, i.e. check or promissory note
  • Contract provisions stating which party is responsible for the title insurance, survey, property inspections and similar expenses
  • Type of deed to be conveyed
  • Other requirements specific to your sale. These might include special inspections, tax advice, or occasionally, attorney review, disclosure of specific environmental hazards, or other state-specific requirements
  • A provision that the buyer may make a last-minute walk-through inspection of the property just before closing
  • A time limit after which the offer will expire
  • Contingencies that state the sale will only go through if certain conditions are met
  • Common contract contingencies include the buyer obtaining specific financing from a lending institution, a satisfactory report by a home inspector, and an appraisal for at least the value of the contracted price

 

Where Do I Go Next?

Steps to Buying a Home

Steps to Buying a Home

Our 10 steps to buying a home

Contact Kentwood City

Contact Kentwood City

Whether you’re thinking about listing a house, beginning your search for a new home,...

Common Real Estate Terms

Common Real Estate Terms

The meaning of terms commonly used during the buying and selling process

Property Bin