A: Why use a Connecticut Mortgage Broker?
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If the home is being sold by the owner, call the seller and tell them you'd like to make an offer. This can be done verbally over the phone, or in person. When presenting an offer, be courteous and respectful of the sellers. In general, avoid criticizing the home with statements like "we don't care for the wallpaper, and therefore we will have to replace it."
| Jim and Christina F in Danbury,CT
"We would like to thank everyone at Acorn Home Mortgage for the wonderful job they did in helping us close on our dream home. Acorn Home Mortgage went above and beyond our expectations, you were there holding our hand nights and weekends discussing all sorts of scenarios and possible financing options. You even helped us to setup a Home equity line in case we needed it (which turned out to be the case). It was a long 6 month process the office was very responsive when it came to crunch time everything was taken care of effortlessly, without errors or problems. Even our builder was impressed with your efficiency!
Thank you again for a job well done."
This will not justify a lower offer and may possibly insult the sellers, decreasing your chances of their accepting your offer. Sellers are usually given 24 - 48 hours to consider an offer. The response time for them getting back to you should be agreed upon if your offer is not accepted verbally immediately.
Put it in Writing
In real estate, all agreements must be in writing to be legal. Put everything in writing! Some sellers will have the necessary legal forms to sign, particularly if they are advertising with a For Sale by Owner website or publication. If forms are not available, you or the seller will need to obtain a Purchase and Sales agreement from an attorney.
You simply fill in the blanks with the information that is pertinent to your sale. This can be done at the kitchen table together with the seller, or the written agreement can be passed back and forth. For example, if the seller says they will clean up the mess behind the shed before you move in; get it in writing. The contract should be reviewed by a real estate attorney or title company before both parties sign to make sure the agreement clearly states what both parties will do (performance).
Include a Deposit Check with the Written Offer
Most deposits range from 1 to 3% of the sales price. This, of course, is between you and the seller. In general, the larger the deposit you include with your written offer, the more likely the seller is to accept your offer. The check should be written out to either attorney's escrow account.
If you are unsure about the value of the home you are purchasing, you can make your offer contingent upon the home appraising for the selling price or higher. This is a common contingency that is required by the lender underwriting the CT mortgage on the home. They want to make sure that the value of the home will cover the amount of their CT mortgage interest in the home.
Request a final walk-through inspection shortly before the closing. Request that you be permitted to walk through the home after the furniture and rugs are removed to make sure that faults weren't covered. It is far easier to correct any problems, or arrange for necessary repair work, before the home is sold than afterwards. And, you may gain a little bit of last minute leverage on the final price (but doníŽt count on it).
If you don't know much about building construction, don't worry. For a home that you are serious about, hire a qualified building inspector preferably referred to you by a friend, neighbor or your real estate agent.
Also, when it comes to making an offer, simply make your offer contingent upon the home passing a professional housing inspection hired and paid for by you. This is also an excellent way to become more familiar with the current condition and maintenance needs of your future home.
Your Offer Is Accepted - Next Steps Towards Closing