4. Making an Offer

Once you find your dream home it is time to make an offer.  An offer is a legal document specifying the terms of the sale.  It will include: a legal description of the property, the offering price, size of the down payment, mortgage arrangements, what repairs are expected, inspection rights, who will handle the title and closing, a list of appliances and furnishing that will stay with the unit, a list of fees and who will pay what, the settlement date, and any relevant contingencies. 

Many times your first offer will be rejected but keep in mind that negotiations will still remain open.  Successful negotiating occurs when both parties realize that the offer must make both the seller and the buyer happy. 

Your realtor will help make this process easier by supplying you with a market analysis of homes that have recently sold in that area, that way your offer will have the best chance of getting accepted. Your agent will also help guide you through the confusing process of writing up a contract and making sure that you will be protected by any necessary contingencies.