You've found the perfect home and are ready to make an offer. Because oral promises are not legally binding, you need to get your offer in writing. Your offer will include the price you are offering, as well as all of the terms and conditions. You may ask yourself, what specifically should my offer include? The following is a list of common things:

• Price offered
• Address of the property
• Date of closing
• Amount of earnest money (deposit) and how it will be returned if the offer is not accepted.
• Type of deed
• Time limit of your offer
• Any contingencies you would like to state, which can be very important.
• Seller's promise to give a clear title

Here are some more basics that are involved in the process:

1] How much should I offer?
The seller has an idea of what he would like to receive for the house and you know what you would like to pay for the house. Joe or Colonel can supply you with an up-to-date list of how much properties have been selling for in that neighborhood. This will help you in determining a range of value for that house.

Remember: Place yourself in the seller's shoes. What would you do with your offer? The most important thing to remember is that you have the final say as to how much to offer.


2] How much of a deposit should I put down?
A deposit is given to show the seller that you are serious in your offer to purchase their home. The deposit amount is usually between $2500 and $5000.


3] When can I take possession?
This is an area that sometimes can be negotiated. Possession or completion usually happens as of noon on a specific date.