Have you found the perfect home for you? If then, congratulations on your choice and I hope you will have a good offer. You might be wondering what a good offer is and its components. So let us take the points written in the Mike Brown Blog. Here’s the outline:
As a buyer we want the lowest probable price of the property. On the other hand, the seller wants the most promising price. To have a good deal for the property, the buyer and seller can meet at the middle to make them both happy with the transaction; a good negotiation can do for both parties.
The amount involved in the Earnest Money Deposit or EMD shows the buyer’s good faith with the transaction (of buying the property). Hence, it is a good offer if the seller see a satisfying EMD. In addition, if the transaction did not push through because of invalid reason then the seller will benefit from it by getting the EMD. Therefore, EMD can make a good offer.
If a buyer is going to loan the property, a preapproval letter is needed to show his financial capability to own the property. A pre-approved letter can give assurance to the seller that the buyer can pay the property so, the transaction can go through to closing.
Inclusions and Exclusions
It is simply identifying what is included and what’s not in the house. Are there any furniture, appliances, or home improvements that are included? The seller and buyer must finalize the inclusions and exclusions of the deal to have a mutual understanding of the transaction.
How long will the sales go through? The seller is also particular with the length of transaction. Will it take longer or not? – one of the questions of a seller in his mind. The shortest time the most likely the offer is good for the seller at the same time with buyer.