Making an offer
Time for nervous anticipation. You've found that home you want and now is the time to make an offer and start the process of home ownership. You know you need to act fast, yet you want to be as calm and objective as possible. The expertise that a Diamond Real Estate Group sales professional can give you at negotiating time is priceless.
Negotiating the Offer
Be prepared for a lot of paperwork and terms that you might not be familiar with. Don't let the pressure get to you. Remain patient and rest assured that our team will guide you through the process and act as your advocate and liaison with the seller and seller's agent.
Once your offer is accepted, be prepared to seal the deal with earnest money. Earnest money is usually a percentage of the home's purchase price that indicates you are serious about the purchase and indicates your good faith to the seller. It's generally applied to the purchase price when you complete the purchase, but may be forfeited to the seller if you fail to complete the purchase.
Many first time buyers are taken by surprise when it comes to the earnest money especially if they have to make an offer quickly. You should have this amount available in your checking account so you can write out an earnest money check on the day your offer is accepted by the seller.
Our team will help you determine the amount of earnest money deposit you should be prepared to make based upon your target home price.
Contingencies are an important part of your purchase agreement. They offer you the confidence that you will have the ability to perform the proper inspections of the property, make sure the property will appraise for the purchase price and that you will qualify for your financing. For a complete copy of our buyers guide.
TIPS FOR BUYERS
At Diamond Real Estate Group we have had the pleasure of working with a number of diverse buyers of residential, vacant land & commercial property over the years. Over the years of representing buyers we have learned a few things that we thought would be worth passing on.
Tip # 1:
Retain an agent on an exclusive basis to represent your interests. Retaining a broker does not obligate you to buy anything, but does ensure that you will have someone who is only concerned with what’s right for you. Working with several brokers only guarantees that you will be last on their list when new properties come available, whereas a broker in an exclusive relationship should give you their full attention, knowing that if you do proceed with a purchase, they will be compensated in nearly all instances by the seller.
Tip # 2:
Be totally forthcoming to your agent with your criteria. Budget, location, size, views, property, setting….whatever is important to you, share with your agent, and be sure to prioritize your list
Tip # 3:
Before looking at individual properties, take a few hours, or even a whole day, and have your agent give you an orientation tour of the area where you’re thinking about buying. Your agent should be able to orient you to those neighborhoods that best meet your criteria.
Tip # 4:
Negotiate hard, but not too hard. Remember that your objective is to acquire the best possible property for you and your family at a fair price. We occasionally have clients who return year after year looking for the perfect deal, meanwhile foregoing the opportunity to have a property of their own in this very special place
Tip # 5:
Be sure the physical condition of your prospective home is thoroughly vetted. We encourage all of our clients to go beyond a standard inspection and have the home looked at by HVAC, plumbing, electrical, well pump, and other professionals.