An offer to purchase a Charlotte NC home involves more than a dollar amount for the purchase price. There are actually a number of factors and terms that go into putting together an offer to purchase real estate in Charlotte NC. Price may be what many focus on immediately but by itself, price isn’t truly a complete offer.
So, what goes into creating an offer to purchase real estate in Charlotte NC?
Ingredients of an offer to purchase a Charlotte NC home:
1. The buyer(s) – is it a sole buyer, multiple buyers? who will be taking ownership of the house?
2. The seller(s) – Who’s selling the house?
3. Personal property– Is any personal property to be included with the house? This can range from refrigerators to drapes/curtains, yard/outdoor accessories, tvs, and sometimes even indoor furniture!
4. Fixtures– what stays and what goes with the sellers? One of the more recent considerations with this has been flat panel tvs, when they’re securely attached to the wall (fixture) and the sellers are taking them it needs to be made very clear…in the offer and contract!
5. Earnest Money deposit – how much are you offering to the sellers as a sign of your seriousness and commitment to following through with purchasing? This amount is ALWAYS negotiable between buyer and seller and while not “required” offering $0 for earnest money is not a great way to show sellers you’re serious about buying a house.
6. Financing– Your pre-approval is supporting documentation that goes with any offer, but it also needs to be noted in the offer what type, amount and specific financing terms you’re pre-approved for – this includes the percentage of the purchase you plan on financing (i.e 97%, 95%, 80% of the purchase price).
7. Loan application deadline – How many days after reaching an agreement with the seller you will have to make formal application with the lender to buy this house.
8. Financing Contingency Deadline – Once this date passes your contingency for successfully obtaining financing is gone.
9. Property Disclosures – did you receive a disclosure for this house and did you have a chance to review it?
10. Purchase Price – The dollar amount you’re offering to pay for the house. This is a number that should involve serious consideration of recent neighborhood comparable sales and comparison to the house you’re offering to buy.
11. Deadline for Inspections – How long are you asking for the right to have inspections (home, termite, etc) done and review those results?
12. Closing Date – When are you offering to close this purchase?
13. Contingencies – Do you have a house to sell, if so is it under contract and heading to closing?
While this list is certainly not all of the offer to purchase (it’s currently 7 pages long), these are the most common factors and points of negotiation in an offer to purchase real estate in Charlotte NC. So really, it’s about much more than a price.
An offer to buy real estate in Charlotte NC is a package you’re sending to the sellers and involves more than just “coming up with a number”. When you’re ready to buy real estate in Charlotte NC preparing the offer to purchase can be daunting but it’s the first step on the road to a contract, closing and your next home.
By the time you’re ready to consider placing an offer to purchase your Charlotte NC real estate broker will have learned a lot about your specific needs and goals and how they will relate to the terms you choose to include in an offer to purchase real estate in Charlotte NC.
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Copyright©2008 by Diane McDermott, All Rights Reserved, “Ingredients Of An Offer To Purchase A Charlotte NC Home”