how is the purchase offer presented and negotiated

RE/MAX Associates Plus

Merry Dahms, Judi Chapnick, and Mary Walls

want to assist you with all of your home buying or selling needs!

Please call our office at (314) 727-8008

How is the purchase offer presented and negotiated??

How do you make an offer to purchase? Once a specific property has been selected, in order to buy the property several things must be satisfied: the offer must be in writing, there must be mutual agreement, between all parties, and there must be something of value, or “consideration” in order the make the offer enforceable. In Missouri the consideration typically takes the form of a cash security deposit, initially, at least, a check for a minimum of $1,000 or, up to 3% of the purchase price, and possibly an additional deposit at a future date. (This is negotiated in the contract process---often, the greater the amount of earnest money, the better the chances that offer is accepted. If the earnest money is high, the seller believes the offer is serious, and it is hard to “walk away” for a serious offer.)

As your Real Estate Consultants, one of us will complete the Purchase Agreement with you. We will counsel you as to what price you might offer the seller. We will explain the purchase agreement to you, and the various contract clauses that are placed within a contract for your protection. We will also provide you with market data in order for you to make a knowledgeable decision. As we are representing you as your Buyer Agent we will be glad to give you an opinion as to whether we believe the home is priced in line with the current market, and to help you formulate your offer in terms which are beneficial to you.

When you have signed the Agreement to Purchase, it will be presented to the seller, through the Listing Broker. Following the presentation several things may occur:

Once the contract has been present to the seller, it may be accepted unconditionally. Congratulations, you have just purchase a home, or-

The contract may be accepted in part by the seller, but other portions of the contract altered. This is called a “counter offer. You are not obligated to the terms of the counter offer. At that point you have the option of accepting, countering, or rejecting the counter offer, or-

The contract may simply be rejected. In this case, another offer may be presented right away, or you may choose to wait to make a second offer.

Each Agreement to Purchase has a definite EXPIRATION TIME and DATE. In the event the seller takes no action prior to the expiration time/date, the contract is considered to be rejected. Please remember that any change to the contract constitutes a brand new offer, which may or may not be rejected. We’ll be glad to discuss this further with you.

At any time, another party might make a SECOND OFFER on the property. We may not know about this, and therefore, in all cases, time is of the essence, and we should know how to reach you at all times during the contract process. If you are going to be away from the phone numbers we have for you, please let us know where you will be, BY CALLING THE OFICE AND LEAVING NUMBERS, IF NECESSARY. It is required that both husband and wife sign all Agreement to purchase UNLESS the property is being purchased from funds belonging to one of the spouses outside of the marriage (community). This is a legal issue and should be addressed IMMEDIATELY. In such cases, A Waiver of Marital Rights will need to be signed and pre-approved by the lender prior to closing, and often at the time of writing the contract.

If either party required to sign the Purchase Agreement and attend the closing is unavailable, you should arrange with us to have a Power of Attorney drafted in order to complete the sale. In Missouri, all owners and purchasers must sign. POWER OF ATTORNEY DOCUMENTS ORIGINATED IN OTHER STATES WILL NOT BE SUFFICEINT. CHECK WITH US OR WITH DAWN!!!