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Answers (4)
Best Answer
- sunnyview
- Contributions:25127
It's best to have a pre approval letter from your lender ready to go before you even find the property that you want to make an offer on. It makes your offer look stronger to the seller. You can ask for several with different prices in 5K increments to save time say four letters for 150, 155, 160, 165 and 170 if that is your basic price range or you can ask for one as needed. You also need your earnest money ready to go so you can submit it with your offer when the time comes.
The offer will be made through your realtor to the seller or their realtor. You do not really need to hire an inspector until you have an offer accepted, so that can generally wait.
The offer will be made through your realtor to the seller or their realtor. You do not really need to hire an inspector until you have an offer accepted, so that can generally wait.
- Scott Wilkie, "Scotte_123"
- Contributions:35
The simple answer is; you can write on offer anytime. However, if you want to be successful- call you agent and he will help walk you through it. That's his job.
There are a few things you can do to make your offer more successful.
1) Pre Approval - make sure you have APPLIED for a loan. Giving some general information to a broker and getting a form letter back is not very effective. A valid pre approval will be based on you submitting you documentation, w-2's, tax returns, paystubs and bank statements.
2) Proof of funds - You should submit proof that you have the wherewithall to consummate the deal.
3) Find out if this is a multi offer situation. You need to know if you are competing against other buyers or if the Seller is competing against other sellers.
4) What type of sale is it? Bank owned, Short sale, or normal sale. The highest offer is not always the best offer, especially when financing is involved.
5) Your Realtor will schedule inpsections for you, odn't worry about that until you have a deal.6) There are a gazillion other things that need to be thought of as well. Does the home need work? If the owner won't do the work, you may have to do it BEFORE escrow can close. Are you ready for that?
Talk to your agent, he should prep you for all of this.
There are a few things you can do to make your offer more successful.
1) Pre Approval - make sure you have APPLIED for a loan. Giving some general information to a broker and getting a form letter back is not very effective. A valid pre approval will be based on you submitting you documentation, w-2's, tax returns, paystubs and bank statements.
2) Proof of funds - You should submit proof that you have the wherewithall to consummate the deal.
3) Find out if this is a multi offer situation. You need to know if you are competing against other buyers or if the Seller is competing against other sellers.
4) What type of sale is it? Bank owned, Short sale, or normal sale. The highest offer is not always the best offer, especially when financing is involved.
5) Your Realtor will schedule inpsections for you, odn't worry about that until you have a deal.6) There are a gazillion other things that need to be thought of as well. Does the home need work? If the owner won't do the work, you may have to do it BEFORE escrow can close. Are you ready for that?
Talk to your agent, he should prep you for all of this.
Step 1. call your lender and get pre-approved for that home
Step 2 call your Realrot and write an offer
Step 3 if your offer is accepted get a copy of the contract to the lender asap
Step 4 your Realtor and Lender will work together, and you will have an appraisal, possibley a pest inspection, and hopelully a home inspection.
Step 5 if all works well, start packing
The whole process takes about 30 days.
Best of luck.
Step 2 call your Realrot and write an offer
Step 3 if your offer is accepted get a copy of the contract to the lender asap
Step 4 your Realtor and Lender will work together, and you will have an appraisal, possibley a pest inspection, and hopelully a home inspection.
Step 5 if all works well, start packing
The whole process takes about 30 days.
Best of luck.
- SoBeLuxuryHomes
- Contributions:130
Call your realtor. He will tell you what steps to follow.
Easy Question
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