What to include in your offer:

You may have your estate broker write an offer for you but the best thing is to write it yourself, this would afford you the opportunity of being direct with the seller. More so, the investment is capital intensive, you can afford to let a second party mar what you have worked for months. Please take all due diligence to do this hence you may experience surprises you did not bargain for.

A contract to sell a property is between a buyer and a seller, however every contract must be written to be legally binding. No oral agreement is considered legal in real estate. The offer becomes a contract if the seller accepts the offer. Once the written offer is accepted, then, it becomes a written purchase contract. There is no legal consequence to the seller on a written purchase contract until it is signed by the two parties.

Address and sometimes a legal description of the property:

- Sale price: the buyer must give a clear cut price for the house

- Terms — for example, all cash or subject to your obtaining a mortgage for a given amount, who should pay home warranty policy – Seller’s promise to provide clear title (ownership)

- Time for closing

- Amount of earnest money deposit accompanying the offer, and whether it’s a check, cash or promissory note, and how it’s to be returned to you if the offer is rejected — or kept as damages if you later back out for no good reason

- Method by which real estate taxes, rents, fuel, water bills and utilities are to be adjusted (prorated) between buyer and seller

- Provisions about who will pay for title insurance, survey, termite inspections and the like

- Type of deed to be given

Other requirements specific to your state, which might include a chance for attorney review of the contract, disclosure of specific environmental hazards or other state-specific clauses

- A provision that the buyer may make a last-minute walk-through inspection of the property just before the closing

- A time limit (preferably short) after which the offer will expire

- Contingencies (if applicable).  The two most common are the buyer obtaining specific financing from a lending institution and a satisfactory report by a home inspector within a specified period of time.

Any personal property or fixtures associated with the property which the buyer wishes to include in the purchase 

After you have done your part, you might give it to an attorney to review your offer. Once all appraisals are done with and the financing is secured, the buyer can now look forward to the closing date. After the closing the ownership of the house is transferred to the buyer

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