Write an offer / Home Warranty

 

Once, you’ve selected a home that you want to buy, it’s time to consider the offer process. In Indiana (unless you are working with a builder), we use a standard, state purchase agreement that was written to equally reflect the interests of the buyer and the seller. While purchase price is one consideration, it is also important that we consider your desired closing date, closing cost assistance, a home warranty and other details as we draft your offer. It usually takes an hour or slightly more to write a purchase agreement with a first time home buyer.



Once You Make an Offer...

 

What a relief - you can now rejoice in having made the selection of the house that will become your home. You won’t have to be on constant alert searching for ads, addresses, setting up appointments & seeing homes that don’t meet your expectations or feel exactly right. Congratulations, you’re on your way and can do a bit of celebrating. But there are a few more steps to go through before the process can be completed and you can really call it home.

 

Keep this reference handy - refer to it as often as needed as we continue to check off the many items that often seem like a ‘real estate maze’ in concluding your successful adventure of buying a new home.


Making an offer - now be careful, making an offer is a big step!! When you find your dream home you should present a competitive offer immediately. I will be on hand to guide you through the entire process to ensure a transaction that is in your best interest.

 

Earnest money deposit - you will need to provide a personal check for 1% of the purchase price in order to make an offer on a home. This check will be cashed upon final acceptance of the offer, and will be held in an escrow account. This amount will be credited back to you on your final closing statement (HUD form).

 

The contract - once the seller accepts your offer, you are “under contract”. I will make sure that every detail is handled accurately and immediately.

 

 

After the seller accepts the offer...

  • We order and conduct a home inspection.
  • We review the inspection report and negotiate repairs on your behalf.
  • I ensure those repairs are made to your satisfaction.
  • We work with your lender to find the best monthly payment and home loan for you.
  • We find the best deal on homeowners’ insurance policy for you.
  • I can help you coordinate utility switchovers and connect you with home contractors you may need. Please see the section about “Home-Link” in Step Seven – Pre closing details.
  • I make sure your property survey and all the paperwork are ordered and ready by closing.
  • We conduct a final tour of the home after inspection repairs and before closing.
  • I keep you informed and prepared for each step of the process.

Home warranty

If the seller does not provide a home warranty policy, the buyer may purchase one at the time the contract is accepted. A home warranty can also be negotiated in an offer to purchase.

Items covered on your home warranty can include (but not limited to):

· Heating system

· Air conditioning

· Ductwork

· Plumbing system

· Sump pump

· Whirlpool tub

· Washer/dryer

· Garage door opener

· Built-in dishwasher

· Built-in microwave

· Range/oven/cook top

· Water heater

· Refrigerator

 

Why a home warranty is so important to your peace of mind

If you’re buying a home, your expenses only begin at closing. Most people have a lot of renovations to make, furniture to buy, etc. So the last thing you want is to have to spend additional money for repairs due to unexpected mechanical failures of certain working components in the home. With so much that could go wrong, the odds are against you.

 

Benefits when you’re the buyer

Your home is one of the biggest investments of your life. Why take chances? Be covered against the expense of an unexpected repair or replacement for a full year after closing, less standard deductible. Think about it, no matter how closely you inspect a home before you buy, you just can’t predict certain things, such as break-downs from normal wear and tear or the possibility of mechanical failure during the first year of ownership. Only a good home warranty program can give you the protection you need.