Making an offer on a home is more than just picking a price. It is crucial to remember that the “offer to purchase” is the controlling document for real estate transactions. Once this completed form is signed by all parties and delivered, you have made a significant commitment. Actually, from this point on in the transaction all decisions are based on what is specified in this document, which is now called the “contract of sale.” It sets the exact terms of the transaction. It is without question the most powerful document you will be asked to sign. The closing is held once all contingencies in the contract have been satisfied. In many respects, the physical closing at the title company is simply a confirmation of what happened days, weeks or months earlier. Click here to learn the details.
Let’s look at some specific questions sent in by DearMonty readers from across the country. Read more Q&A articles about the “Making an Offer” stage of the Home Buying process: