The proposed purchase of real estate is a document of great importance and has legal value: with it, the buyer assumes the obligation to purchase the property. The seller for his part, by accepting it, undertakes not to sell the house to others.
The proposal is made by the potential buyer, so it is he who “dictates the rules”. Clearly, in order for it to be valid it must also be accepted and signed by the owner of the house, so it is necessary to be only appropriately demanding. Here are some important tips to follow.
Bound to mortgage loan
The first clause that the buyer must insert, if he does not own the entire sum, is to condition the purchase to the granting of the loan: the clause that the purchase will be completed only if the bank grants the mutual.
It is therefore necessary to enter a sufficient period of time for the bank to carry out all the necessary checks and, on the other hand, that it is not too burdensome for the seller. Usually 40 days are entered: the seller will have to keep the house locked for this period, until the buyer receives the reply from the bank (usually about a month passes).
Evaluate the potential ROI for your apartment, house or other property
When creating your proposal make sure you considering all the factors of inside the house. Such as how are the bathrooms, what condition is the roof, or does the kitchen have good cabinets and countertops? You want to ensure that you are outlining the potential of this property to earn you money down the road. And if you can have partnerships with contractors and remodeling companies, like having a professional team of kitchen remodelers at Kitchen Infinity, then you can take on projects and include this in your proposal. You’ll even be able to map out ROI.