When you find that special home, it is time to make an official offer.
This is a very serious step of the home buying process and should be done with the help of an experienced real estate agent.
MAKING AN OFFER
Any offer must be put in writing as verbal offers are not accepted in the State of Ohio. We also recommend submitting your offer as soon as possible so that another buyer doesn’t get the home.
While your agent will sit down and go over all the paperwork, our clients find it helpful to receive a copy of the purchase agreement in advance so they have a chance to review it. It contains a ton of important information and is a legally binding contract, so should be taken very seriously.
The formal offer will consist of the purchase agreement, property disclosures, and State disclosures.
Your agent will need the following information in order to complete the purchase agreement:
1. Names as you want them to appear
3. Down Payment
4. Earnest Money
5. Closing Date
By this point, your agent will have given you market statistics, so figuring out a starting price should be fairly easy. We will talk more about this in detail during the “Negotiations” Step of the process.
We recommend that all buyers ask for a general home inspection up front. Then, based on the results, you will have a right to bring in additional specialists if deemed necessary by the general home inspector.
We also recommend pest and radon inspections. The general home inspectors typically offer these services.
Homes that are on well and/or septic will require additional inspections. Your agent will be able to advise you on this.
WHAT TO EXPECT
We recommend sitting down in person with your agent if possible to go over your offer and the corresponding paperwork. If you are unable to meet in person, doing everything by phone and email is certainly acceptable.
The process could take 1-2 hours for first time buyers or as little as 15 minutes for seasoned buyers.
Since this is a major financial transaction, you are also welcome to have an attorney review the paperwork, although not necessary in the State of Ohio.
Once the paperwork is completed, things can get really complicated as the next step takes place, “negotiations”.
The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services. They specialize in Solon luxury homes, relocation, and first-time buyers.
They can be reached at 216-346-3235 or 216-403-9189 or via email, firstname.lastname@example.org or email@example.com.
The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Woodmere. We would be happy to refer you to a qualified agent if you are buying in an area that we do not service.
Buying A Home In Cleveland Step 4 – Making An Offer is the property of The Schuman Team and may not be duplicated or used without their written consent.©May, 2015