Found a house? Now make an offer

5 Things To Ask When Making an Offer

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1. Which appliances and items will be left in the house?
There's nothing worse than a client thinking they're purchasing a home with a fridge and a washer and dryer. Then come to realize upon move-in, that the seller took it with them! 
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Make sure you talk to your Realtor about what you want in the house. Your Realtor can create a Bill of Sale for any personal items that are not considered fixtures (attached to the house). 

​2. How much earnest money should I offer?
Earnest Money is "good faith money" that is attached with the offer. This amount shows the seller that the buyer is serious about this purchase. The rule of thumb that I suggest in my market is $1,000 for every $100,000.

​3. How long do I have for inspections?
​In my South Carolina market, we have 10 business days for a Due Diligence Period. The due diligence period begins the business day after the accepted contract is signed by both parties. Within that time, the buyer may hire inspectors and gather reports to determine if any repairs will be needed.

4. What kind of inspections should I get and how much does it cost?
​I always recommend a General Home Inspection and a Heating & Air Inspection. Some loans will require a Cl-100 Letter or a termite letter, which will inspect for water moisture and termite damage. I tell my clients that they can expect to pay $400-$500, but it will depend on your market's inspection costs. Other specialty inspections may be necessary. 
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Read more about "5 Costs Before You Close"

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• Pool Inspection
• Structural Foundation
• Well Water Test
• Septic Tank

​5. Do we need to have any contingencies?
There are a lot of different contingencies that could pertain to any transaction. Some of the most popular would occur if you need to sell your house first before buying another home.

Closing Contingency
Your home is currently under contract, but you need to close on your home first, before closing on your new home.

Sale and Closing Contingency
Your home is not under contract and may not be on the market, and you need to put your home on the market, get an accepted offer, and close on your home, before closing on your new home.

Other contingencies could include asking for professional carpet cleaning, cleaning the pool, asking for any HOA transfer fees to be paid by the seller, or asking for the septic tank to be pumped. The list of possible contingencies is endless and may vary in different markets. Consult your Realtor about your specific situation.