So you’ve been searching the market for several weeks, even months, for that perfect home.
And you FINALLY found the home that checks off all your requirements. Perfect!
Now how do you make an offer?
Well hopefully, you are working with a licensed real estate agent to help you navigate the home buying process. Buying a home is serious business. It involves a lot of money and know-how about the legal process. We are Esther Chong Realty Group have a wealth of experience to help you make the right decisions.
Here in the state of Georgia, we use a contract called a “Purchase and Sales Agreement”.
Wait. Why is my agent using a “Purchase and Sales Agreement”, I’m not ready yet! I just want to put in an offer yet. Does this mean I’m locked into a contract now?
Don’t be alarmed! It is standard practice to draft your offer on a Purchase and Sales Agreement. There is no such document for just offers like a ‘Offer Contract’. In Georgia, the Purchase and Sales Agreement is the document to submit a formal offer.
Our agents use Georgia Association of Realtor (GAR) forms, which have been developed by the board’s legal committee, updated twice a year to stay up to date with the latest real estate laws.
Your agent will help you determine the best offer for the condition of the home and the current market. Our experienced agents at Esther Chong Realty Group will negotiate with the seller’s agent to get you the most for your money. Keep in mind that market conditions play a huge factor in the offer. Our agents have the best idea of the current market year-round.
You are NOT under contract until all parties (you, your agent, the seller, and the seller’s agent) agree and sign the Purchase and Sales Agreement. Once everyone signs, that’s when we are considered binded!
We hope this was helpful to some of our out-of-state clients and new home buyers. If you have more questions about the home buying process, give us a call and we’d be happy to answer your questions!
– Happy house hunting from Esther Chong Realty Group