When you decide to make an offer on a property through SpireEx, it’s essential to understand the process and what’s required to ensure your offer is taken seriously by the seller. Here’s a step-by-step guide to help you through the process.
Before submitting an offer, you must provide a valid preapproval letter from your lender if you plan on using a mortgage. This document confirms that you are qualified to borrow the amount needed to purchase the home. If you’re planning to buy the property with cash, you’ll need to provide proof of funds. This can typically be a recent bank statement showing that you have the necessary funds available.
If you’re unsure about what to offer for a home, SpireEx allows you to request a detailed report on the property directly through our website. This report will provide valuable insights into the property’s value, helping you make an informed decision when determining your offer amount.
When submitting an offer, you’ll be asked to specify a deposit amount. The deposit, also known as earnest money, is a show of good faith to the seller that you are serious about purchasing the property. It’s important to note that you do not have to provide the deposit until after your offer is accepted. If you’re unsure about how much to offer as a deposit, you can enter an estimated amount, and SpireEx will assist you in finalizing this part of your offer.
A contingency is a condition that must be met for the sale to proceed. Common contingencies include:
These contingencies protect you, the buyer, and give you the flexibility to back out of the purchase or renegotiate the terms if certain conditions are not met.
During the offer process, you will be asked to provide an estimated closing date. The closing date is when the property ownership is officially transferred from the seller to the buyer. This date may change depending on various factors, but don’t worry—SpireEx will assist you in finalizing the closing date to ensure it aligns with all parties involved.
If there are specific items you want to include in the purchase, such as appliances (e.g., dishwasher, microwave) or other personal property, you can add them to your offer. Keep in mind that the seller may not agree to include these items and might counter your offer with different terms. This is all part of the negotiation process, and SpireEx is here to help you navigate these discussions.
SpireEx offers the option to have property reports performed on the home you’re interested in purchasing. These reports can provide detailed information about the property's condition, history, and any potential issues that might affect your decision. It’s an excellent way to ensure you have all the information you need before finalizing your offer.
Once you’ve completed all the necessary steps and submitted your offer, the SpireEx team will review it to ensure everything is in order. We’ll then finalize the offer and send it to the seller for their consideration. Throughout this process, SpireEx will keep you informed and assist you with any questions or concerns you may have.
Making an offer on a home is an exciting but complex process. With SpireEx, you can be confident that you have the support and resources needed to make the best possible offer. Whether you’re a first-time buyer or a seasoned investor, SpireEx is here to guide you every step of the way.
