Making An Offer For The House You Want To BuyBuying a home is a lengthy process made up of various steps. Now that you are past the search step and have found the home of your dreams, it is time to get serious with your realtor and prepare to make an offer.

Making an offer on a home you'd like to buy is to choose a price that suits your budget and either matches completely or close enough to the seller's asking price.

Typically a home is appraised based upon its own value and the value of the comparable homes in the neighborhood.

Your realtor will advise you on what purchase price offer works for both parties.

A written offer is the most appropriate way to present your purchase number to the seller. You can write a personal note to the seller to express your excitement and love for the home, which may help your offer to stand out.

Once the seller and their agent receive the offer, they may choose to do the following:

·         Accept the offer immediate and prepare for a purchase contract to be signed

·         Deny the offer in its entirety

·         Make a counter offer. They will contact your realtor and present a number higher than what you offered initially. You can choose to accept this number, or offer your own counter.

Once the price has been agreed upon, a purchase contract is drawn up. The purchase contract protects the seller by preventing the buyer from backing out.

Even with this signed contract, the bank still has the final say for whether or not the mortgage funds will be provided to the buyer.

The offer is also contingent upon many things: (the following can be requested by the buyer and required by the bank). These inspections are needed to keep the contract valid.

·         Title review

·         Land survey to determine property lines

·         Property inspection

·         Property appraisal

If you are looking to buy a home in Palm Beach County, Florida, contact Leibowitz Realty Group today.