Element of a contract offer

Exclusive Right to Represent Buyer (Do not submit this with your contract offer).

 Overview: Elements of a contract offer:

• Residential Sales Contract
• Conventional Financing  FHA or VA addendum
• Lender approval letter
• Copy of Earnest Money Deposit payable to National Realty
• Escalation addendum if applicable
• Property disclosure addendum
• Home inspection addendum if applicable

Details about the above:  

The Buyer agreement

• Buyer agreement is not submitted with contract offer.
• Says we represent the buyer, but the seller is paying commission. 
• States at settlement buyer has closing costs + $495 admin fee.
• Signed by buyer and Broker Paul Hartke. (give copy to client)

• The Sales Contract 
• Best to offer Full Price, then either seller subsidy or no seller subsidy.
• Escalation addendum never hurts. If no other offer, it does not come into play.
• Nice size EMD payable to National Realty ( 1% or more)
• MBH Settlement company.
• Financing Addendum
• Buyer must make a written loan application within 5 days of  ratification.
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• Financing & appraisal contingencies: Write in 21 days. 
  
  
• Lender letter of approval.
  If the buyer does not have a choice, Lender Andy Sikora is super, 703-505-2999  andy@andysikora.com 
  
  
• Copy of EMD – Upon ratification submit to National Realty by giving to management or sliding it into the lockbox on the front desk. Property address and agent last name in memo section.
• Escalation Addendum – Add this addendum if property has been on the market a short time. Come in at full price and outbid others. The contract asks for  means you will out bid other offers by a certain amount ( $1100) up to a lid of ( put in buyer’s top offer limit.)

• Property Disclosure addendum: Provided by seller stating being sold “as is”. This can be found already signed by seller in the documents icon at the top left of MLS subject listing.