The "Real" State - Corona, CA

Prolegomena. My name is Tim Trainor. The goal of this blog is to be informative. I will use this space to write about my experiences, real estate in Corona, CA, finances, non-profit organizations and my life in general. My hope is that you would return to this page in an effort to learn more about my practice, as well as more about me. The initial focus is going to be on real estate, because it is such a relevant topic and because this is where my business is focused today.

Showing posts with label Contingency Periods. Show all posts

Friday, May 2, 2008

I really want to buy a home...where do I start? pt. 2

3.) Write an offer. Writing an offer sounds a little easier than it is. I am not saying that it is difficult...but it is a tad more complex than calling the listing agent and saying, "we want to offer $300,000 for that house". Components of an offer:

A. Offer Price
B. Deposit
C. Financing
D. Closing Costs
E. Contingency Periods

The offer price should be based on something. This sounds reasonable...but a lot of people say, "I want to offer $275,000." To which I reply, "why?". Usually they have no reasoning behind their offer...it is just what they want to offer. I recommend relying on a REALTOR to help you determine the market value for a home...and then making an offer around the value.