Finding a home is just one of the many steps you have to take in order to become an official homeowner. Once you have found your home, you have to make an official offer. All offers must be done in writing to be official. The Residential Purchase Agreement does vary from state to state, so using a local real estate agent is the best way to go.
Most Purchase agreement forms are very detailed with tons of information and sections to look over. It is best to have a professional in the industry help you with this step. In a residential purchase agreement, you will have your purchase price, the address, the description of the property, your terms and conditions, your closing date and an expiration date.
In order to get all this filled out and filled out correctly, your agent can help you determine what to offer. A local real estate agent knows the local market and can help you with a price to offer. Most of the time your offer price is just the starting point for negotiations with the seller.
There will be some going back and forth until both the seller and the buyer agree on a price.
A real estate agent can provide a Comparative Market Analysis which will help determine how much you should offer. This analysis will list all the homes that recently sold in the same area of the home you are making an offer on. This way you can compare your offer price to the sales prices in the current market. Only a Realtor or real estate sales agent will have access to the Comparative Market Analysis.
Remember if you are in the market for a home, hire a licensed real estate sales agent who will help you with the home-buying process from start to finish. An agent can help you with the offer price and the ins and outs of the sale contract.
