Indiana Real Estate Purchase Agreement Counter Offer

If it`s a hot market, you may need to offer a higher price than the price to be competitive with other offerings. This scenario would be a bidding war and you should consult your purchasing agent to orient yourself above a safe offer above the purchase price. An agreement for the purchase and sale of indiana residential is a legally binding contract between a seller and a buyer of residential real estate. This contract includes all the elements of the sale of the property, including the price, the condition of the property, inspections, closing conditions, rights and obligations of both parties, among other important conditions. Both parties must sign the contract, but only after the seller has accepted the buyer`s offer and all the conditions have been agreed. The seller is also required to provide the buyer with a disclosure form displaying the various factual defects and relevant information regarding the property. This is very important when writing an offer to purchase. You want the seller to know that your offer depends on several factors to protect you. Most contracts already contain these provisions, but be sure: determine when your offer expires and make this clear in your offer. Some buyers may give the seller only a few days to decide if they accept. This can lead to a transaction failing because the seller didn`t have enough time or felt pressured by the buyer. Seller`s Residential Real Estate Sales Disclosure (Form 46234) (ยง 32-21-5-7) – This is a complete disclosure form that must be completed by the seller of a residential property and submitted to any potential buyer. The seller`s residential property sale form informs the buyer of defects, problems or other information*, which should be reported before the conclusion of a purchase and sale contract.

Determine with your real estate agent an amount that you want to offer first. You should probably make an offer below the purchase price, as the seller will likely make a counter-offer if they are interested in your offer. For any questions or other information regarding the state`s surplus real estate process, please contact Steve Harless, Executive Director of the IDOA. To get a mandatory purchase offer, you will need acomphement such as cash, cashier`s check or personal check. You don`t want the seller to hold the check, so you should deposit it into a trust account of a trustee. You can find a local title company to open a trust account through a trust agent, and you will present them with a cheque to hold. Typically, you pay a deposit in cash, but it could also be in the form of shares or other real estate assets. If you are selling shares to fund the count, be sure to include this as a possibility of the transaction. You need to determine a real number of prices to write about the offer. It may be common sense, but some people will try to write something ridiculous like “I`m going to pay $5000 above your highest offer.” Quality is important when it comes to making offers to purchase. A poorly written sales contract can reduce your chances of your offer being accepted by the seller. Therefore, writing a quality offer to purchase to submit to the seller is almost as important as the price you offer for the purchase of the home.

If you decide to work with a buyer agent like us, we will take care of these 9 steps for you and we take care of the negotiations with the seller. . . .

Comments are closed.