http://realtyworldoroville.com Serving Oroville & Paradise With Over 40 Years Combined Experience Sun, 25 Jul 2010 04:48:00 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 http://christinelson.com/2010/01/26/youve-decided-to-buy-a-house-now-what-part-lll/ http://christinelson.com/2010/01/26/youve-decided-to-buy-a-house-now-what-part-lll/#comments Tue, 26 Jan 2010 22:40:00 +0000 Christi Nelson http://realtyworldoroville.com/2010/01/26/you%e2%80%99ve-decided-to-buy-a-house-now-what-part-lll/ So your agent has shown you a bunch of  houses and you might be getting a little frustrated if you havent found the right one.  Be patient! Sometimes it takes a few showings to really fine tune what it is that you REALLY want. 
 Then, you finally find it! Let the flood of emotions and questions begin!
In my opinion, it is good idea to educate the buyer as to what the process is and what decisions we will have to be made when finally making the offer.  However there are still little things that will need to be addressed and especially if there are going to be multiple offers on the property.  Thats where you will need to really listen to what your Realtor advises you to do. They have the experience and negotiating skills that will put your offer in its strongest possible position.
Although there are many part to the purchase contract here are a couple examples of things to think about:
The  purchase price. What is the amount you really want to offer? This will usually be a number you come up with according to the sold comps your agent has provided to you. Keep in mind this is probably the toughest part. There are a couple of factors to consider when finalizing the price. Is the seller being asked to give a credit for your closing costs? Are you asking for the seller to pay for all the inspections? How long is your escrow period?  These are things that need to be considered and your agent  will help you fine tune the numbers to make it attractive to the seller.
Escrow Period- How long of an Escrow do you need? Generally the normal time period is 30-45 days. Its a good idea to check with your lender regarding the time period they may need to complete the loan process.
Inspections- What type of inspections do you want to do? What is customary? What do you want the seller to pay for and which ones will you as the buyer pay for?  Your agent will be able to advise you on what the different types of inspections you can do and the importance of them. Your lender may also require certain inspections depending on the type of loan you have.
Here is an example of what a Califonia Purchase contract will look like.

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