Based on nearly 20 years of reviewing contracts, I have prepared this simple list. If you are on the buying side, make your offer competitive by considering these ideas. If you are selling, look for a contract which offers you these benefits.. -Dan Novak, Sarasota Florida.
Offer best price
Complete inspection prior to contract so that the contract requires no inspection.
Cash beats Financing. Conventional financing beats FHA
Waive or shorten inspection time length to 5 days or less
Waive appraisal value contingency. If mortgaging, buyer should agree to overcome any appraisal value problems by personally contributing whatever amount is required to make the purchase. This requires a special clause in contract that says. “If appraisal comes in below value, buyer agrees to provide the additional money required to make the purchase.”
Quick mortgage commitment date, less than 30 days of possible.
Use the AS-IS contract
Make the contract non assignable.
Check box number 2 on page 4 which means the buyer will pay all title fees
Offer larger than normal deposit (10k or more) with a 2 day delivery or less. Offer to deliver additional deposit after 14 days after the effective date.
Proof of cash in the bank and or a prequalification note that shows buyer is worth more than they are paying. ( bank statements, bank letterhead, phone numbers to bank representative.)
Include clause. “Owner may take or leave any personal unattached content which is currently in the home”
Include clause: “Buyer Understands, has reviewed and will comply with any and all association rules and regulations”
Give at least 24 hours or more for the seller to review. Do not expect an expired offer to be reviewed.
Be gentle, patient and polite to the listing agent.
Send ONLY PDF’S of all docs & EMD to the listing agent no word docs, jpg etc.
Write a personal letter explaining who you are, and what you will do with the house.
Please note that these are only ideas and not required to get your purchase offer accepted. The seller and listing agent will make the final decision.
Prime Time Real Estate Inc. 