Engel Volkers - Dallas A4 - Flipbook - Page 66
E n g E l & Vö l k E r s | DA l l A s F O r T WO r T H
Making an o昀昀er
Once you have found the home you want to move forward with, the next step is to make an offer. There are
many factors to consider; as always, your Engel & Völkers real estate advisor will be on hand to help you.
step one would be to discuss the purchase price. Your real estate advisor will perform a comparative market analysis (CMA)
for you and check how long the property has been on the market. Ultimately, it is your decision on how much you would like to
offer, and having all the critical pieces of information available will help you decide. This is a personal decision, sometimes
defying all logic and reason because it is the one!
The great thing about Texas is that the state has worked closely with attorneys to make the required forms to be filled out to
make an offer, which is very user-friendly in the process. Filling out the blank forms makes the process easy. Your real estate
advisor will help explain each section of the purchase agreement.
The purchase agreement's components must be determined at the time of the offer. There is required earnest money and
option money that must be decided that will be required to be deposited with the title company within three days of the
execution of the contract. The amount of earnest money shows the seller how sincere you are about purchasing the property,
which the title company holds then credited to you at closing. remember, it is at risk if you breach the contract.
If you require an inspection, you state the time period you want in the purchase agreement; you pay a fee for that right to
inspect and negotiate on repairs within a specific time frame. Making an offer without an option period still allows you to have
an inspection if you are looking to make a stronger offer. Your advisor handles these negotiations, so make sure you review
the seller's disclosure notice prepared by the seller and take visual notes when you view the home.
Your real estate advisor will walk you through deciding on the right offer price. They will advise you on other contingencies
that are in the ‘Texas Purchase Agreement’. remember, other people may be keen on purchasing the property; you may be
invited to make counteroffers.
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