Receiving An Offer
This is an exciting moment, when you receive your first offer. If the offer has been provided by a licensed real estate agent you can be fairly confident that all the documents will be included and are filled out properly.
If an offer is brought to you by an unrepresented buyer, proceed very carefully before signing any documents. We recommend that you have your attorney or SMH representative review the documents at this point. Remember that these are legally binding documents and are very important.
If you proceed on your own with an offer, here are a few items to check for:
* A pre-approval letter from a qualified lender for buyer.
* An earnest-money note or check made out to the Escrow Company that you have chosen.
* A legal description of the property is attached.
* A proper Purchase & Sale Agreement with accompanying addendums.
* Check time-lines for the Inspection, Buyer Financing, Counter Offer time-frame and especially the Closing Date. With all of the financing criteria needed today a 30 day closing is a thing of the past. Add at least 2 weeks to a 30 day closing.
The Offer & Counteroffer phase of the transaction will probably be the most stressful time when selling your home. Coming to an agreement on selling price and the conditions of purchase may be challenging but you can get through it with the proper attitude and knowledge. Your SMH representative is just a phone call away if you need some coaching.
When you have a “Signed Around” contract to purchase your home, notify SMH so we can place your home in the NWMLS as Pending Inspection.
Contact your Escrow Company so they can start the paperwork and procedures for properly closing your home.
We always recommend that an Attorney or your SMH representative review your documents before you sign any forms for the sale of your home or property.