Writing an Offer
You’ve found the home that you want and you are ready to go after it. Making an offer for a home has many complexities. Most of which change with the market. Your agent should be knowledgeable about what it takes to give you the best possible opportunity at getting your offer accepted. Approaching this part with an open mind and willingness to listen to your agent is very important. Three important aspects of any offer are:
- Price – market research and desire are two major components to deciding on offer price. How badly do you want this home, how much interest is there on the property from other buyers and what does the market support for fair market value price?
- Terms – Are you offering cash, or are you attempting to secure a loan? How much money down? How much Earnest Money? What are closing costs?
- Contingencies – What are the conditions of the agreement? Within the Colorado Contract to Buy and Sell Real Estate there are various contingencies for the buyer. Your agent should be able to explain these to you and educate you on the importance of each.