When you find “the one” – the Lake City home for sale that you really have to have – you’ll make an offer and hope the seller accepts it.
But where do you even start?
Making an Offer 101
Your Realtor(R) will fill out the right forms for you to make an offer on your home. The offer will address all the legal requirements necessary, and it’ll:
- Specify price
- Specify terms and conditions of the purchase
Things that the seller has promised – like paying part of your closing costs or making repairs – also need to be in your offer.
Your real estate agent will present your offer to the seller’s real estate agent, and then the seller has the chance to accept it, reject it, or try to negotiate with you.
When Does the Purchase Offer Become a Binding Contract?
If both you and the seller sign the purchase offer in acceptance of its terms and conditions, it becomes a binding sales contract. It’s commonly called a purchase agreement.
That’s why it’s so important that your offer contains everything necessary – including:
- The home’s sale price
- Target date for closing
- The amount of money you put down as earnest money
- How bills, taxes and other costs will be prorated by the seller
- Provisions on who’s paying for things like title insurance, the survey and inspections
- What type of deed will be granted
- A time limit after which the offer will expire
Related: What is an earnest money deposit?
Are You Selling or Buying a Home for Sale in Lake City?
If you’re selling a home in Lake City, we’re the local experts. We know how to market your home aggressively and bring in qualified buyers, and we’d love to help you sell quickly and at the right price.
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
In the meantime, check out the most popular Lake City home searches by exploring the links below.
- Waterfront residential in Lake City
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- Bank-owned homes and foreclosure in Columbia County
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- Land-for-land home combo in Lake City