Making an offer on a future home is a challenging experience.This decision making process arrives at a certain point in life to most people.When this point arrives,it is necessary to be ready with the money!.Mortgages,homeloans etc are available in plenty all over the US and an appropriate scheme shall be selected.

Having scouted around in the localities around us,we need first of all to list three or four homes ,with an order of our priority of preferences.

It is often helpful, if we sit down and make a check list on our own.Such a list should contain that all the points that come to our mind at a first pass.We can modify and include additional points as we go along.Before the final decision is taken and the first amount of money is paid,this check list can be made as perfect as possible.Help can be obtained from experienced people in this.Our parents,friends in the builder's circle,architects,engineers can come handy to make our check list final and good enough.

Some important items to consider in the checklist that we have made while making an offer for a home are

1.The Price.
The asking price,actual latest sold price in the locality/community,an average of the selling prices which are similar to our target house etc are points that need careful study.Realtors is the area will be of some help,if we don't have friends in the area.

2.Note the hidden/concealed issues.For example the condition of plumbing,heating,airconditioni ng etc.These utilities( including the electricals) can land us in trouble,if not checked/inspected properly.The reason for this is that the inspection/maintenace clauses may be separate additions to the asking price.
Some of the numbers being told/displayed as " As sold" prices may not include the concealed issues.

3.Make sure to get a contractor's inspection done,by the seller with a clear report.We need not pay for this inspection.It is the seller's responsibility to convince us about the saleability of his/her property.

4.Improvements required should also be handled in a manner similar to the issue of maintenace and reapirs.We should ask for all the essential improvements we need,keeping some flexibility of approach on this issue.The essentials are essentials and need not be compromises as alternative homes are also available.

5.Have agreement on all points in writing.Maintenance and improvement issues can become a hazard if they are not agreed in writing.The inspecting agency/ contractor should be brought on board early enough, as it is best to keep the same agency for continued upkeep even after the property has changed hands to us.

6.Agreed discounts. Obtain in writing,discounts offered by the seller on the asking price.

7.Terms and conditions payment,the validity of the insurance on the housing,security contract durations,outstanding utility bills etc all need to be checked thoroughly.

8.Keep the options regarding alternative homes available in the selected area.

9.Do not make any payment unless one is satisfied as much as possible.

10.Be a little flexible in terms of the price and the conditions as 100% satisfaction is not practically possible when purchasing homes, especially the slightly older ones.

Learn more about this author, Madhusoodanan.K.P..
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