| An offer to purchase is a legally binding
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| | custom or language is. This allows you to
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| document, not just a casual negotiating
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| | add another buyer or assign the whole
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| tool. The moment the seller of the real
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| | contract to another.Closing cost clauses.
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| estate signs your offer, you are
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| | You can specify that the seller pays for
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| obligated to live up to its exact
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| | the closing fee, the title insurance, the
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| language. Since you can write the offer
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| | recording fees, and even the points on
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| how you want to, why not include the
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| | your loan. For many sellers the price is
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| clauses that smart buyers use to protect
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| | the most important thing, and they don't
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| themselves? You can also use language
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| | care too about the details. What if they
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| that will save you money.The Offer To
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| | don't want to pay the costs? You at least
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| Purchase - Important ClausesInspection
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| | gave yourself some negotiating points.
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| contingency clauses. You want something
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| | Now get something for dropping each of
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| like this in every offer to purchase:
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| | the costs you included. This could
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| "Offer is contingent upon a home
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| | include a reduced interest rate if the
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| inspection and buyer's approval of the
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| | seller is financing part of your
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| results; inspection to be done at buyer's
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| | purchase.Basic financing contingency
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| expense within ten days." You can ask the
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| | clause. If the loan doesn't come through,
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| real estate agent for help with the
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| | and you can't buy the home, you'll lose
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| specific wording. This clause gives you
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| | your deposit, unless you have something
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| the right to have an inspection done. If
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| | like this in the agreement: "Subject to
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| anything negative is found, you could
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| | buyer obtaining a firm commitment for
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| refuse to "approve" of the results, and
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| | suitable financing within ten days."
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| so get your deposit back. Alternately,
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| | Actually, the language should usually
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| you could renegotiate a lower
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| | specify what "suitable" means in terms of
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| price.Earnest money clause. Real estate
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| | interest rate and such.Spousal approval
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| agents will tell you that a certain
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| | clause. This clause can be as simple as
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| amount is necessary for a deposit, but
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| | "Subject to a walk through inspection and
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| the decision is yours. A small earnest
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| | approval of home by buyer's wife (or
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| money deposit may be taken seriously, if
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| | husband or partner - state their name)
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| you include a clause like this: "$100
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| | within two days." If your wife says no to
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| earnest money deposit, to be increased to
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| | the deal within two days, you can back
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| $2,000 upon acceptance of this offer." Or
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| | out and get your deposit back. For the
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| you can have it increased "when all
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| | seller to agree to this one you need to
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| contingencies are met." The reason?
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| | keep the time frame as short as you
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| Suppose there's an argument about you
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| | can.Some of the above clauses are normal
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| backing out because the inspector found
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| | and acceptable to all, while others are
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| foundation damage. You won't have your
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| | likely to annoy the real estate agent.
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| money tied up while this is being
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| | That's okay. The seller has the right to
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| resolved.Right to assign clause. This one
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| | say no to your offer in any case, and you
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| is primarily for investors. Suppose your
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| | have the right to use these clauses to
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| partner isn't there to sign the offer, or
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| | protect yourself in your offer to
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| you want to "flip" the deal to another
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| | purchase.Copyright Steve Gillman. Visit
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| investor, or you may need to involve a
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| | his website for:
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| partner for purposes of funding the deal.
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| | 1. A photo of a beautiful house he and
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| You need a clause in the offer to
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| | his wife bought for $17,500.
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| purchase that covers this. Including the
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| | 2. A free book on how to save thousands
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| words "and/or assigns" after your name on
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| | buying your next home.
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| the offer is usually sufficient, but ask
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| | 3. A free real estate investing course.
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| the real estate agent what the local
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