If you come across a property that you would like to submit an offer on that was shown by a realtor, do you visit that real estate office to submit an offer to purchase or do you fax the office your own form? If you use your own form, do you use a standard set of contingencies within the offer? Care to share the form? Is a fax a must in this business?
If you are using a Realtor, they generally are required to use a contract that is approved by the state/local board of Realtors…if you are working with a Realtor, I wouldn’t mess with a “home grown” contract.
The Realtor can assist you with filling out the form. There are some standard contingencies but all contingencies must be written in separately. Sample contingencies include:
- Sale of a current home/property
- High enough appraisal
- Approval of financing
- Home inspection by a qualified inspector
- Approval by a partner
The contract can be made contingent upon just about anything but the more contigencies (or more bizzare the contingencies) the harder to get the contract done…
Keith, thanks for your response. I’ll have to pick up a fax machine tomorrow. Will make life much easier (and save a bunch of time) versus driving back and forth to the realtors office. Thanks again for your reply.
Instead of purchasing a fax you can use e-fax. I use them for incoming faxes so I don’t have to have a second line. I did purchase an HP officejet 6210 for outgoing even though you can make up a contract on your computer and fax it with e-fax. I have had good luck with them and you can use it from any computer anywhere.
In my experience, intents or offers to purchase are not taken too seriously, more so if it is a hot property. I still try to get away with them so I don’t have to keep typing and faxing contracts until after the details are hashed out.
Seems like most sellers want to see offers in contract form earnest money and mortgage preapprovals.
When I was told on occasion that the seller would not conside the offer I re-iterated that the agent was obigated to present it.
I’ve heard that some people make their proposals in the form of a written offer and the latest realtor that I dealt with suggested that I either come out to his office to fill out the offer sheet (as well as contingencies) or that he will fax me an offer sheet (to save me the time) where I can fill it out and fax it back to him… and then he will fax it to the seller.