You must have a valid pre-approval or proof of cash funds to offer on a property in Central Ohio. It is not REQUIRED to present it at the time of offer but most agents won't take an offer seriously until proof of financing or purchase is presented. I usually open up a line of communication between myself and your lender so that when the time is right I can request they send me a property specific pre-approval letter. This shows the selling party you are prepared and ready to do business with them..

 

An offer amount is dependent on a few details. The most important detail is whether the seller has received offers or expects at the time you plan to offer. Multple offers on a property change the offer strategy signifcantly. It is also important to understand the seller's situation. Your real estate agent should reach out to the listing agent to discuss what parts of an offer are most important to the seller.  Once I have had the conversation and analyzed the possible competition for the property we will discuss our offer strategy. Typically if you are the only one offering on a property you can put it in contract for list price or slightly less provided it is not brand new to the market.

 

1.) Price- The amount you are offering to pay for the property.

2.) Closing Date- This is the date you promise to pay and sign for the property.

3.) Possession: This is the day and time you will be allowed to get keys to the property and begin moving in.

4.) Inspection Period- The amount of days needed to inspect the property and decide to proceed or request repairs.

5.) Earnest Money- The amount of earnest money deposit being offered for the contract.

6.) Home Warranty- The type and cost of the home warranty you are asking the seller to pay for

7.) Additional Terms- this is any additional details of your offer not covered  by standard parts of the contract.

8.) Offer Expiration: The time and date the offer is offer the table to the seller. 

 

 

After we have discussed the details of your purchase offer you can sign the offer electronically using Dotloop or Docusign (We use dotloop at my brokerage). You will receive an email from me through the e-signing software that will have a link to open the software and begin signing. Once you have completed signing the software notifies me. I then go over the contract to make sure I didn't leave anything out and that all initials and signatures are where they need to be. I will then send over your offer package to the listing agent for the property.