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I need help with the wording of an offer to purchase. I just…

I need help with the...
I need help with the wording of an offer to purchase. I just got my real estate license and started with an online broker, I’m in the on boarding process but I’m actually purchasing my own home. I want to make a verbal offer and then follow it up with a contract over the weekend. What I need help with is determining favorable terms. I’m buying a new build that has been on the market for six months, The house is listed for 334,000. I’m planning on offering 290,000. What else should I include in regards ***** ***** terms? Closing costs, option period etc. my broker is going to help me over the weekend with the contract but unfortunately I need to make this offer today and he’s unavailable
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Answered in 1 minute by:
3/23/2018
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,221
Experience: Texas Attorney for 30 years dealing in real estate
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

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How about $290,00 plus half the closing costs.Thats a good first offer here.Closing in say 45 days.

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An option period is a specified time frame in a real estate contract which allows a buyer to terminate the contract for any reason. It creates the right to terminate within the specified number of days for a specified price.Normal option period is two days.

I appreciate the chance to help you today.Thanks

If you can positive rate 5 stars it is much appreciated.

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Customer reply replied 3 months ago
That’s standard, correct? Could I ask for all closing cost to be paid by the seller?
Customer reply replied 3 months ago
I want a 10 day option period, I was going to give $100 for that. How would I word all of that?

Could I ask for all closing cost to be paid by the seller? Yes you can

Buyer to have 10 day option period in return for payment of $100 to seller.

Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,221
Experience: Texas Attorney for 30 years dealing in real estate
Verified
Ray and 87 other Real Estate Law Specialists are ready to help you
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Customer reply replied 3 months ago
Ok thank you

Have a great weekend and good luck here.

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