Items Needed to Place an Offer

Properly preparing an offer can help you negotiate a better price as well as get your offer accepted. The following items are needed to place a complete offer on a property that you desire to purchase:

1. Purchase agreement and related documents

I will write your purchase offer using the standard California Association of Realtors forms, based on your input.

2. Underwriting loan approval or pre-approval letter from a funding lender

Without a home loan pre-approval, your offer will not be taken seriously and may not be accepted. Also, if you are not pre-approved and enter escrow, you may discover that you cannot get a home loan and may lose your earnest money deposit. You obtain a pre-approval letter from your loan officer or lender. I can recommend a loan officer who provides competitive rates and exceptional service. If you are already pre-approved for a home loan, please provide me a copy of the pre-approval letter.

3. Most recent bank statement(s)

The bank or financial statement(s) must show enough funds for the down payment and closing costs. A photocopy of an actual bank statement(s) or liquid funds is preferred, instead of a printout of an online summary.

4. Minimum of 1% of purchase price as earnest money deposit

I will instruct you on whom to make your check out to. I will make a copy and you keep the original.

5. Recent credit report with credit scores

You loan officer should be able to provide this. I will remove your social security number for security.

Why are all these items needed? Because:

• You need to demonstrate to the seller that you have the financial capacity to purchase the property.
• The seller will see that you are financially able to purchase the property and take your offer seriously.
• You enhance your chance of getting your offer accepted.
• It will enable you to negotiate the best price.
• If you are not pre-approved for a home loan and enter escrow, you may discover that you cannot get a home loan and may lose your earnest money deposit.