Finding the right house to buy often means that you are ready to make an offer on it. If so, making an offer can be exciting and scary all at the same time, but it is a step you will have to take if you want to buy a house. After making the offer, here are several things you should expect.
The seller might counter the offer
While there are many times when sellers accept the offers they receive, there are also a lot of times when sellers will counter the offers they receive. When a seller counters your offer, he or she is basically saying that the offer is fair, but there is something, or several things, that he or she does not agree with.
The seller might counter the price you offered on the house by raising it a little bit. The seller might also counter any contingencies you added to the offer. For example, if you asked the seller to replace the kitchen counter tops, the seller might not agree to this. In the counter offer, the seller might state that he or she accepts everything in the offer except this contingency.
If the seller counters the offer, you can either accept it or counter back. At some point, you will hopefully reach an agreement with the seller, and the deal will be accepted by both parties. Once this happens, you can move on to the next steps in the process.
You will need to talk to your lender
After you reach a deal, it will be your responsibility to contact your mortgage lender. If you already got preapproved through a lender, which most buyers do, this step will be very easy. When you get preapproved, you must submit financial documents to the lender. If you did this prior to making this offer, your lender will already have almost all the financial documents needed to start working on your loan. If your lender does not have everything for this, the lender will ask you for it, and you will need to submit the forms as soon as you can.
The lender will spend the next few weeks working on your loan and completing inspections on the house. When the lender completes all of this, you can close on the deal and move into the house.
If you want to shop for a house or make an offer on a house you have already viewed, talk to your real estate agent to get started.Share
17 April 2018
I have always been someone who is passionate about making the world around me more beautiful, which is probably why I was drawn to real estate initially. I really wanted to create a place where me and my family could spend a lot of time together in a peaceful, relaxing place, so I started looking for places in my area that were fit for the job. Within a few months, I was able to find an incredible property that was within my price range, so I purchased it as soon as possible. This blog is all about choosing beautiful real estate.