How Do I Make An Offer?
Purchasing a new home is a big decision filled with much excitement but also many questions. You deserve to have the best real estate professional that is dedicated to meeting your needs and assisting you in each step of the process. At TruLine Reality, we strive every day to provide you with this type of excellent service.
In today’s competitive market, buyers should be prepared to act immediately once they find the perfect home. Below is a list of the basic items you should begin assembling and provide to your agent as soon as possible to begin making offers:
1) Proof of funds – Most Sellers will only take a Buyer’s offer seriously if they are able to show they have enough money to close a deal. Your proof of funds can be a simple online or bank statement that shows you have enough money to pay for your down payment and closing costs or for the entire purchase amount if you are buying all cash. Please note, the name on the account should match the name(s) on the offer.
2) Pre-approval letter – If you are planning on financing the purchase, you should begin working with a qualified lender or broker immediately to obtain a pre-approval or pre-qualification letter. This letter must be submitted with your offer as well. If you already have a pre-approval letter, please provide it to me. Please note, that the approved borrower’s name(s) should match the name(s) on the offer.
3) Gift letter (if needed) – If any of the monies for the purchase or down payment are being gifted to you by someone else, you should include a letter that explains this. This helps the Seller to understand your situation and to see that you are qualified to complete the transaction.
4) Earnest money deposit – This is a check made out to “Escrow” usually in the amount of 3% or more of the purchase price. Again, the account holder’s name(s) should match the name(s) on the offer.
5) FICO score (optional) – This is not always required but can help the Seller feel secure if you have a good score and are obtaining financing. Some Sellers do ask for this, so it is best if you provide it to me to keep in your file.
6) Introduction Letter (optional) – This is a good way for you to set yourself apart from the crowd by telling the Seller a little bit about yourself and making the purchase more personal. Sellers like to hear how much you like their house and how you really want to make it your new home. I can provide you with samples if you wish.
If you have any questions about these items, please do not hesitate to ask us. The more communication we have, the better and stronger our relationship will be, and the quicker we can move towards realizing your ultimate goal of buying a new home!
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