Step 5, How to Make A Real Estate Offer With Earnest Money.
I hope you are all enjoying this series of 13 Steps to Buying a home in Phoenix!
The fifth step to buying a home in Phoenix is to make an offer with earnest money. Well...what does that mean, and how do you do it?
At this point you and I would have already meet with a lender, begun house hunting, and have compared houses in the Phoenix, and Scottsdale area.
As I have shown you different homes around the Phoenix Valley we have both narrowed down as to what type of home you want to live in. I can do this by watching your reaction to the different homes I show you.
When you have decided that you have found the next home you want to live in...it is time to make an offer. Right now Phoenix and Scottsdale are experiencing a buyer's market. What that means to you as a buyer is that now is the time to buy if you want to get a great real estate bargain!
Once you have selected the home I will go over and explain the statistical information to you regarding the financial value of the home and what I think they sellers will sell it for. Writing a real estate offer and getting it accepted in Phoenix, or Scottsdale is a psychological game. You and I will need to have our game plan in line before we start the process.
I will have a plan in mind for you and I will go over it with you! If you have any objections to it...I of course am always open to improving and doing what my clients are most comfortable with.
Once the offer is written and accepted (In this market the Buyers and Sellers may counter offer each other several times) it will be time to open escrow and deposit your earnest money.
The amount of earnest money required or expected in the Phoenix Valley varies greatly on the area the house is located in and the amount of money that the home is selling for. If you have questions about how much you will need to put down, ask me. I'd be happy to let you know.
Within 24 hours of an accepted Arizona real estate purchase contract I will have opened escrow with your earnest money.
This begins the process called "Escrow." My next blog will be about opening escrow and what that entails!
As always, let me know if you have any questions, or if there is anything I can do to help!
Anne Eliason
480-235-8305
anneliason@gmail.com
Date: Tuesday, December, 18th 2007 @ 09:20:02 AM
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