Once you have your dream home in Markham, it is time to get to work. You need to place an offer on the home for the sellers to accept. This is a process that should require some time and effort. Here are five steps you should take when placing an offer on your dream home.
Step 1: Determine the Fair Market Value on the Property
Once you have found your home, you should look at a comparative market analysis. This will provide detailed selling information for local homes. You can use it to determine the current market conditions and if the asking price on the home you desire is fair or if you should offer a lower or higher price.
Step 2: Your Agent Begins Communicating With the Seller’s Agent
When placing an offer on the home, you must communicate and work closely with your real estate agent. While you are determining a price to offer, your agent should be communicating with the seller’s agent. During this step, your agent should be gathering the information that could help you make an acceptable offer, such as, if other buyers are interested in the property, the buyers want a long closing date, etc.
Step 3: Complete Your Offer
Once you have all your information, it is time to place an offer. You will not only want to think about your offer price but all the terms and conditions you want to include as well. For example, will you ask the seller to pay a portion of your closing costs? Do you want to include certain appliances or furnishings in the offer?
Step 4: Wait for Your Offer to Be Accepted
Now comes the difficult part: waiting for your offer to be accepted. In many cases, the sellers will come back with a counteroffer and you may negotiate back and forth for several days. Once your offer has been accepted, you must provide the deposit on the home.
Step 5: Begin The Busy Work
Once your offer has been accepted, it is crunch time. As the buyer, it is your job to work closely with your lender to provide all the necessary documents to secure your financing and meet your closing date. This can be a lengthy and frustrating process and you don’t want to delay. If you desire a home inspection, your real estate agent should schedule this appointment for you.
Purchasing a home can be a complex process and a time-consuming process. By working with a qualified and trained real estate professional like Martin MacFarlane, you will have a much smoother, more enjoyable experience. Contact Martin today for more details.