Step 3

We've found just the right home, we've studied the tip sheet, the odds are in our favor... Time to place a bet.

We need the check to see if this home is priced fairly and how it relates to others that are similar to it that have sold. I will find out how long the property has been on the market, if there have been price reductions, if there have been any other offers, and what the motivation is.

When we’re comfortable with what we will be offering, we begin to fill in the blanks of the Heart of Kentucky Association of Realtors Offer to Purchase form.

You will be pleased that Kentucky has many provisions for disclosures. Some of the ones we will go over will be:
-Seller’s Property Disclosure
-Home Inspections
-Home Warranties
-Lead Based Paint Disclosure
-Termite Inspections
-Any other Inspections the Buyer May Elect

We will go over the contract very carefully, so that each paragraph is understood. The terms we will be entering in our contract will include:
-Property description
-Price
-All Disclosures
-Possession Date
-Agency Relationship
-What Remains with the Home
-Terms of Financing
-Property Inspections
-Final Walk-Through Date
-Compensation of Brokers

-Okay, now what? As your agent, I will present the offer to the seller’s agent, who in turn presents it to the seller. It is at this point that the final terms are agreed upon in writing, and the final offer/counter offer is signed.

-Now we have an accepted offer, we will be depositing your escrow check, and you will contact your loan office for loan applications. Then you will set appointments for the inspections you have elected within the terms of the contract.

-After all inspections are completed and approved, we enter our next phase, the closing!

• Step 4: The Finish Line - Steps to Closing