Real Estate Agents Massachusetts Real Estate MA - Offer

When find your perfect home you will need to make the seller an offer in writing. Offer is the first step toward negotiating a sales contract with the seller and is much more complicated than simply determining a price. Because of the large amount of money involved, both the buyer and the seller should protect their investments and limit their risk. Therefore, when you make an offer, typically you not only specify the price you are willing to pay, but also the details of the purchase such as (1)How you intend to finance the home, (2)Amount of the down payment, (3)Who pays the closing costs, (4)What inspections will be performed, (5)Whether personal property is included in the purchase, (6)Terms of cancellation and any repairs you want done, (7)Date you will take physical ownership and possession of the property and how to settle disputes should they occur (8) Contingencies (When something goes wrong, you can cancel the contract without penalty. If you cancel a contract without having agreed upon conditions and contingencies, you could find yourself forfeiting your good faith deposit and the money you spent to inspect the property, as well as other damages. For this and other reasons, it is highly recommended that you retain an attorney. Your attorney will advise you as to what you should include in your offer to protect yourself.). Before making an offer, thoroughly evaluate the property as following:-
(1)Property Conditions, how the property compares with the rest of the neighborhood.
(2)Home Improvements, what the previous owners have done to the house to determine if these improvements warrant the asking price and/or were done correctly.
(3)Market Conditions, When market is "hot" it is often considered a "seller's market". This may give the buyer less room to negotiate his/her ideal price because there may be other people willing to pay more for the home. When market is "slow" then it is considered a "buyer's market". In times like these, houses often sit for longer periods of time without receiving acceptable offers, so when reasonable offers do come in, sellers may be more willing to negotiate
(4)Seller Motivation, If the seller needs to sell quickly due to their personal situation, they may be more willing to negotiate.
After submitted your offer, you must await the response from the seller. The seller could accept, reject or ponder your offer. Often, the seller will counter your offer with higher amount. This begins the process of price negotiation that may continue until both parties either agree on a price or decide to go their separate ways

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