Trading the real estate property is a lengthy process but in all cases, it includes the most important element which is the offer that a buyer makes on the property. There are two scenarios in order to sell or purchase a real estate property including the need of selling from the owner and willingness of purchase from the buyer. Whether the seller hires a realtor in order to find potential buyers for the property or the buyers approach the owner of the property without invitation, the buyers are required to make an offer on the property and see if the owner agrees with it or he wants to negotiate.
Recommended Procedure to Make an Offer to Purchase Real Estate:
When you like a property i.e. house or apartment, you need to hire a realtor or attorney who will help you out in the process of making an offer and buying the property. In order to take the first step of making an offer, you need to contact the realtor and get the legal form of making an offer. There are many elements and complicated terms included in this form so you need to ask your attorney to go through it and explain everything to you in simple words. Later, if you agree with the terms, you can fill the form with the price that you want to offer and send it to the owner of the property.
Factors that Might Influence the price you offer to the Owner:
- First and most important factor to come up with a figure is to evaluate how much you can afford
- Second factor is the need of that property for you and the reality of how badly you want that property
- This also includes the number of other buyers that are also interested in the same property as it will increase the value of the property
- Another factor is the motivation of the seller and how willing he is to sell the property or if he is ready to sell the property at all
- The offer also depend on the physical appearance of the property and how much construction or remodeling it will need later
- The amount of the offer also depends on the other similar properties in the area and their prices in the market
What you need to do before Making an Offer for the Purchase of Real Estate:
- Before making an offer on the purchase of a real estate property i.e. home, you need to hire a home inspection team and get the property inspected thoroughly by the professionals. This includes termite inspection, fungus inspection, leakage and seepage inspection and mold inspection.
- You need to hire a property estimator who will evaluate the expected market value of the property and help you come up with a figure that is affordable by you and acceptable by the owner.
- You need to pay a visit to the local development authority and make sure that the property you are about to make an offer on meets all the safety code and building requirements.
- Hiring a realtor or attorney that will review your offer documents and other forms before you submit them to the owner of the property.
Here is preview of a Free Sample Real Estate Purchase Offer Form created as fillable PDF Form,
Here is download link for this Real Estate Purchase Offer Form,