HOW TO GET AND OFFER ACCEPTED IN SAN DIEGO

4 ITEM OFFER SUBMISSION

1. Residential Purchase Agreement

2. Earnest Money Deposit

3. Pre-approval from a Lender

4. Verification of Funds

RESIDENTIAL PURCHASE AGREEMENT

This contract outlines what you are offering

It includes purchase price, amount of deposit, if you are asking for closing costs, length of inspections and much, much more! Have your agent email you a blank copy so you can get familiar with the contract.

Remember this is just an offer. You still have 17 days to due diligence and inspect till your heart’s content!

EARNEST MONEY DEPOSIT

This is a good faith deposit. It shows you are serious about this property. If your offer is accepted you will have 3 days to get this to escrow.

It should be a minimum of 1% of the purchase price. The more you make this check, the more serious your offer looks.

You can make it out to ________ Escrow and send a picture of it to you Real Estate Agent.

PRE-APPROVAL FROM YOUR LENDER

Your lender will supply you with a pre-approval form.

You must submit your personal financial information to him/her to get this approval.

This should be submitted with your offer. Most listing agents wont consider an offer without one of these.

VERIFICATION OF FUNDS

You need to show where the down payment is coming from.

This can be a bank statement, a letter from your bank, IRA statements or a statement from any other investment accounts in your name.

If a relative is gifting you the downpayment you will need a letter from them and a verification of their funds.

LET’S RECAP!

1. Residential Purchase Agreement

2. Earnest Money Deposit

3. Pre-approval from a Lender

4. Verification of Funds

CALL JANETT LEWIS AT 858-717-0070 WITH ANY QUESTIONS!

YOU ARE NOW READY TO GET THAT OFFER ACCEPTED!

~Barbara Corcoran~

“A funny thing happens in real estate. When it comes back, it comes back up like

gangbusters.”