Once you’ve selected a home, it’s time to make an offer. We’ll help you draft the purchase agreement to protect your interests in the property. We present the offer along with your pre-approval letter and earnest money check to begin negotiations.
To put a purchase agreement together we’ll need the following information;
- Your full legal names. How the names appear on the purchase agreement is how they will appear on title. You can change this later but you will need to make an amendment to the purchase agreement to do that.
- How much earnest money will you put down? This is money paid at the time you write the purchase agreement to confirm a contract. This is typically done with a check made payable to the listing broker. Or if you live here in Minneapolis you can use a fairly new electronic system called TrustFunds.
- Purchase Price. How much will you be offering.
- Close Date. When do you want to take possession of the house and how quickly can all the involved parties, your lender and the title company make that happen. In Minneapolis the close date is typically 45-60 days from the day you write the offer. The close date does need to happen on a Monday-Friday. Title companies are not open on the weekend.
- Do you want to get your home inspected? We highly recommend this one but it is your choice and it is included on the purchase agreement so you do need to decide. You also need to figure out how quickly you can get all the right people in to do the inspection. Again in Minneapolis and the surrounding area’s this can usually be done within 7-10 days.
There are a few additional forms that you will need to read and understand that are included with the purchase agreement but this is the information needed to put an offer together.