COURSE INDEXPreliminary Questions
Home Buying Start & Registration
Budgeting To Buy a Home
Find Your First House
Inspect Before You Buy
Shop For a Mortgage Loan
Home Mortgage Loan Process
Credit Score and Credit Report
Home Mortgage Loan Closing
Being a Home Owner
Mortgage Quote Request
Get Started Below!
Whether using a real estate agent or handling the purchase agreement on your own, there are a number of items listed below that should be included in the purchase agreement:
The buyer should find out as much as possible about the sellers from their real estate agent. Accurate information is the key to price negotiation when making an offer. It is helpful to know if the seller is really motivated to sell the property. You should also ask the seller or seller’s agent questions about the house and property. The condition of the appliances, heating and cooling systems, roof, the electrical systems and plumbing systems will help determine if the house has been well maintained. The prospective buyer should disclose as little as possible to the seller or his/her agent. For example, the buyer can be at a disadvantage if the seller discovers that the buyer’s lease is about to expire or has expired. Enclosed is a sample Real Estate Purchase Contract. Review it for familiarity. The real estate agent will assist in filling out the contract when an offer is made. (Review the Real Estate Purchase Contract located in the Forms and Work Sheet Section of your Guide.)
The purchase offer may include contingencies in addition to the amount of money that you are proposing to pay for the property. Contingencies are conditional events which must happen in order for the buyer and seller to conclude the transaction. All details of the contingencies should be listed in written form on the purchase offer. Some typical contingencies include:
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Table of Contents | Homebuyer Course Start Page | Find A Realtor | Budgeting To Buy a Home | Neighborhoods | Find Your First House | Inspect Before You Buy | Shop For a Mortgage Loan | Mortgage Home Loan Process | Credit Score and Credit Report | Home Mortgage Loan Closing | Being a Home Owner
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