Obviously, the process of purchasing a home involves many steps. Remember that though this is new to you, it's old hat to me. Since I'll be handling most all the details, there's really nothing to get too worried about. Here is a brief overview of what needs to happen.
An earnest money check must accompany the Offer to Purchase. This can be a personal check, or it might be a certified check. Usually the amount is about 1% of the sale price of the house.
Once your written offer is presented, the seller will do one of three things: accept your offer; reject your offer; or make a counteroffer. If necessary, negotiations are then conducted until an agreement is reached. I will work with you to decide how best to proceed. When the seller accepts your offer, or you accept their counteroffer in writing, you have a binding contract for sale on that property.
Your earnest money will now be deposited in the listing broker's trust account to be held until closing. Once all the paperwork is signed you be presented with the keys to your new home!
This is clearly a simplified explanation of all that is involved when buying a house. I realize you are likely to have many questions, and I want you to feel free to contact me if you'd like clarification or if you are ready to get started.
Keith Ramach, Realtor | Direct: (301) 921-2698 | Cell: (301) 509-1550 |
Email: keith@MyFirstClevelandHome.com | RE/MAX PROS