The seller will typically respond within 1-3 days. They can accept your offer as-is, reject it, or counter with different terms. Multiple counter-offers may go back and forth
If the seller counters, you'll work with your agent to respond. This process continues until both parties agree on all terms and sign the final contract.
Once an offer is accepted and considered Ratified, escrow will be opened.
The amount you're offering to pay for the home. Your agent will help you determine a competitive price based on comparable sales, market conditions, and the home's condition.
A good-faith deposit showing you're serious about the purchase. In California, this is typically 1-3% of the purchase price. It's held in escrow and applied to your down payment at closing
The portion of the purchase price you'll pay upfront. This affects your loan terms and can be a negotiating factor - larger down payments may be more attractive to sellers..
The target date for completing the transaction. Standard escrow in California is 30-45 days, but this can be adjusted based on seller needs or buyer circumstances.
Conditions that must be met for the sale to proceed. Common contingencies include: inspection contingency, appraisal contingency, loan contingency and sale of current home contingency.
You can request the seller contribute toward your closing costs. This effectively reduces your out-of-pocket expenses but is limited by loan type.
Appliances, fixtures, window treatments, and other items can be negotiated. Be specific about what you want included - if it's not in writing, it's not guaranteed.
A service contract covering repair or replacement of major systems and appliances. You can request the seller provide a home warranty (typically $600-$900/year) as part of the sale.
If the seller needs time to move out after closing, you can negotiate a rent-back arrangement where they rent the home from you for a specified period, usually at a daily rate.
The seller will typically respond within 1-3 days. They can accept your offer as-is, reject it, or counter with different terms. Multiple counter-offers may go back and forth
If the seller counters, you'll work with your agent to respond. This process continues until both parties agree on all terms and sign the final contract.
Once an offer is accepted and considered Ratified, escrow will be opened.
Every situation is a little different. Whether you're preparing an offer,
negotiating, or already in escrow, feel free to ask anything. I'm happy to
help you understand your options and next steps.
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