Making An Offer On A Property

Acceptable Offer Packages

by Edward Sorensen May 2, 2010

All real estate agents must submit one of two complete offer packages: Standard Residential Purchase Agreement Package Notice Of Default Purchase Agreement Package Either of the two packages must be complete and contain all required forms and addenda filled out completely. Standard Residential Purchase Agreement Package A standard residential purchase agreement includes: Proof of Deposit [...]

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Incomplete Offer Packages

by Edward Sorensen May 2, 2010

The following items will make a submitted offer incomplete: Using forms which are not the most recent revision of forms available from the California Association of Realtors. Missing required forms or addenda as defined in these offer instructions. Missing required signatures either by the buyer or the buyer’s agent. Missing required initials either by the [...]

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Offer Terms That Are Most Likely To Be Countered

by Edward Sorensen May 2, 2010

We will advise our seller(s) will be advised to counter any of the following terms: 1. OFFER: D. CLOSE OF ESCROW-Requesting a close of escrow greater than 30 days after acceptance. 3. FINANCE TERMS: G. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS-Verification must be attached. 3. FINANCE TERMS: H. LOAN TERMS (1) LOAN APPLICATIONS-Loan preapproval [...]

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Offer Terms That Are Most Likely To Be Countered (Short Sales Only)

by Edward Sorensen May 2, 2010

We will advise our seller(s) will be advised to counter any of the following terms: PREAPPROVAL LETTER-Using a preapproval letter from a lending institution known to us to be incompetent or ineffective. 1. OFFER: D. CLOSE OF ESCROW-Requesting a close of escrow greater than 45 days after acceptance. 3. FINANCE TERMS: G. VERIFICATION OF DOWN [...]

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Acceptable Methods Of Submitting An Offer

by Edward Sorensen May 2, 2010

Real estate agents may choose any of the following options: EMAIL-Please email a complete offer package to Offers@HowToBuyThisHouse.com FAX-Please fax offers to 888-615-3327. A cover sheet is not required.

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Unacceptable Methods Of Submitting An Offer

by Edward Sorensen May 2, 2010

BY MAIL-Hard copies of offers will not be accepted. IN PERSON AT OUR OFFICE-Hard copies of offers will not be accepted. PRESENTATION TO SELLER-Other real estate agents will not be permitted to present offers directly to the seller.

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How Delivery Of Offers Is Confirmed

by Edward Sorensen May 2, 2010

Receipt of all offers is confirmed by a post updating the Offer Status for the applicable property of www.HowToBuyThisHouse.com within 24 hours. Receipt of offers will not be confirmed by any other method. If a post updating the Real Estate Transaction Updates for the applicable property of www.HowToBuyThisHouse.com does not indicate the receipt of an [...]

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What Happens To An Offer After It Is Received

by Edward Sorensen May 2, 2010

The offer will be reviewed for completeness and counter offer items. If the offer is complete and does not contain counter offer items, we will recommend that the offer be: Ratified By The Seller(s) -OR- If the offer is incomplete or contains counter offer items, we will recommend that the offer be: Countered -OR- Rejected

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What Happens To An Offer After It Is Received (Short Sales Only)

by Edward Sorensen May 2, 2010

CASE 1-A Short Sale On Which An Initial Offer Has Not Been Received, Or A Previous Offer Was Rejected By The Lien Holder(s), Or A Previous Offer Submitted To Lien Holder(s) Was Abandoned By The Potential Buyer: The offer will be reviewed for completeness and counter offer items. If the offer is complete and does [...]

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What Happens To An Offer After It Is Ratified By The Seller(s)

by Edward Sorensen May 2, 2010

Notification of ratification of an offer by the seller(s) will be made by a post updating the Real Estate Transaction Update for the applicable property of www.HowToBuyThisHouse.com within 24 hours. Additionally, an electronic copy of the ratified offer will be forwarded to the buyer’s real estate agent.

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What Happens To An Offer After It Is Ratified By The Seller(s) (Short Sales Only)

by Edward Sorensen May 2, 2010

Notification of ratification of an offer by the seller(s) and forwarding of offers to lien holder(s) for review will be made by a post updating the Offer Status for the applicable property of www.HowToBuyThisHouse.com within 24 hours. Additionally, an electronic copy of the ratified offer will be forwarded to the buyer’s agent.

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What Happens To An Offer After It Is Presented and Not Ratified Or Countered By The Seller(s)

by Edward Sorensen May 2, 2010

An offer that has not been ratified or countered by the seller(s) will be delivered to the listing agent’s broker of record for archiving. It will not be presented again to the seller(s) after the offer expires.

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