Once you’ve found the house you want to make your home, you will need to submit an offer in writing. This is where you can rely on the skill and knowledge of your realtor to provide you with information on other sold properties. This will be extremely useful in helping you determine your offering price. In addition to price, there are other items such as inspections, inclusions, etc. that your realtor’s expertise is needed.
Buyer and seller can go back and forth several times, known as counter- offers, until a final agreement is reached by both parties. This can take a few hours or a few days. Keep in mind that during the counter-offer phase, another buyer can present an offer which could eliminate your offer from the negotiations.
Once an agreement is reached, your Realtor, Lender, and Attorney/Title Company will be coordinating the process to reach the timely and successful closing on your new home and you can move on to Step 5.