Typical Offer Components:

• Property address
• Sales price and terms
• Seller’s promise to provide clear title
• Date for closing – transfer of ownership
• Earnest money provisions – how it is refunded if offer is rejected
• Pro-rated amounts of real estate taxes, utilities, assessments, and other costs that may be incurred by the seller before closing but not billed to the property until afterwards
• Who will pay for title insurance, surveys, inspections, and other costs associated with the transaction
• Type of deed to be transferred
• Provisions requiring environmental, hazard, and property disclosures and review by attorney
• Final walk-through inspection shortly before closing
• Length of time that offer is valid

Common Contingencies in a Purchase Offer:

• Obtaining specific financing terms, such as the interest rate and the duration of the mortgage
• Securing approvals for agreed-upon third party inspections, within a stipulated time frame after the seller’s acceptance of the offer
• Selling your current home