When I was younger, I never gave much thought to what my future home would look like. I never conjured up images or tore ideas out of magazines to store in a shoebox. I knew that I would own a home one day, so for the most part, I had a “think about it when the time comes” mentality.

The day I started dreaming up all sorts of ideas for my future home is one I will never forget. It is burned into my brain and I can vividly recall what I was wearing, whom I was with, the smells that bombarded me, and the feeling of anxiety that washed over me like a sudden summer shower. I had just moved to New York after graduating from college and found myself standing in door-less, closet-less room (which was to be my bedroom). That was the moment I started to think and dream about a place I would one day call my own.

After just having met with Maggie to discuss what making an offer on a home would entail, I now realize that thinking and dreaming is one thing. Acting and doing is a completely different ballgame. An emotional, somewhat stressful, but totally exciting ballgame.

I naively thought that an offer was simply that. Nothing more, nothing less. I could not have been more off base (pun intended). An offer is much more than a price you put forth to a seller. It involves warranties and fees and due diligence …oh my!

The purchase offer you submit, if accepted as it stands, will become a binding sales contract (known in some areas as a purchase agreement, earnest money agreement or deposit receipt). It’s important, therefore, that it contains all the items that will serve as a “blueprint for the final sale.”

So, to all of you out there about to enter the home stretch, here are a few helpful hints to keep in mind when you make your offer:

• Become Inspector Gadget. Buying a home is one of the biggest purchase decisions you will ever make so do your due diligence and inspect the property thoroughly, white gloves and all. Better to be safe than sorry, right??
• Protect Yourself I learned a lot about the benefits of purchasing a home warranty and would recommend that everyone at least look into it. If you are a first-time buyer, like I would be, you want to be covered for repairs of major systems like plumbing, heating and air conditioning.
• Remember Earnest Money. This is a deposit that you give when making an offer on a house. A seller is understandably suspicious of a written offer that is not accompanied by a cash deposit to show “good faith.”
• Practice Your Negotiating Skills. If the seller likes everything you’ve proposed and signs on the dotted line, you have a binding contract in place. If the seller likes everything except the sale price, or the proposed closing date, or the pool table you want them to leave behind, you may receive a written counter-offer, with the changes the seller prefers. You are then free to accept or reject it or to even make your own counter-offer. For example, “We accept the counteroffer with the higher price, except that we still insist on having the pool table.”

So you see, an offer is not simply an offer. It’s many little things all coming together to bring you one step closer to having that place to call your own.

By Genevieve Jooste (Social Media Coordinator)