Getting the Highest Price in the Shortest Time
April 5, 2017
The Purchase Agreement, Part II
April 5, 2017

The Purchase Agreement, Part I

Your job is now to decide which properties are right for you. Once you have narrowed the list, your real estate agent can assist you in the selection process by providing objective information about each property. In addition, if you have an agency relationship with your Realtor, they can also provide you with information about sales of comparable homes in the area and market analyses; as well as community information on utilities, zoning, schools, taxes, etc. In making your decision, be sure to consider: 1) Will the property meet my family’s needs, and 2) Should I expect the property to increase or decrease in value over the next few years?

Once you decide on a particular house, you are ready to make an offer. Your Realtor will complete the Purchase and Sale Agreement form for you, with information you provide. So, there are still lots of decisions that you will have to make, with the professional expertise of your agent. 1) Definitely, one of the most important is, how much do you want to offer for the property? Your agent can assist you in making an educated decision so that the amount you offer is both a fair and non-offensive price, as well as within your predetermined price range. 2) At this time, you will also need to inform your agent as to the terms of the financing that you and your lender have determined to be best for you. 3) When do you want to take possession of the home? You may choose to take possession at the closing or at some future or past date. If the possession is at a time other than the closing, there may need to be some additional money exchange. 4) Which attorney would you like to close the transaction? The attorney plays a very important part in the transaction. In addition to assisting with the mounds of paperwork at the closing table, the attorney normally performs the title search prior to closing. This is a most important part of the process in that it assures that the property you intend to purchase has a clear title and therefore is able to be sold.