In a sellers’ market, you need to come in strong.
Twelve important contract offer points:
1) Full Price with as few contingencies as possible.
2)Escalation addendum with $1100 over any other offers up to $?? (buyers lid)
3) High Earnest Money deposit payable to National Realty. (Any dollar amount about 1% of sales price is typical, but a little higher is better.)
4)A strong lender letter or even full approval letter from Loan Officer Andy Sikora 703-505-2999.
Each contingency you choose, lessens chances of success.
5) If having a financing contingency, fill in 21 days.
6) If having an appraisal contingency fill in 21 days.
7) If waiving appraisal contingency and value comes in short, the buyer must be able to handle the difference in cash.
8) Home inspection contingency. If doing one, choose Void only option on the addendum.
9) Under Earnest money section, it will be delivered within 5 days.
10) On Notices, HOA and condo docs: Write your email and your client’s email separated by a comma. No postal address.
11) Property condition: check box – “date of offer.”
12) Property Disclosure: Find this document at the top left of MLS print out. Hover mouse to find it. If it’s there, add it to your Sales Contract documents. It states the house is Sold “as is”.
To see elements of a contract, go to top of www.nat22.com and click PDF forms and then click Buyer Side.