14 Steps to Buying a Home in Westchester County
Posted by Carolyn Schoemer on Tue, Jun 29, 2010 @ 03:14 PM
Step 8:
You Have An "Accepted Offer" - As buyer's agents, we have negotiated with the seller's agent and you have an "accepted offer". We will now write a memo of sale with all the terms set forth and notify your attorney. Usually the contract is not subject to inspections and therefore all inspections should be done within 72 hours of the "accepted offer". This is very important since the property IS STILL AVAILABLE to be shown to other buyers. Should the inspections show problems that were not known or obvious, we may try to renegotiate (your attorney may also be a part of this). Once all issues are resolved, we now go to contract. It is customary in this area to give a 10 % downpayment check payable to the seller's attorney escrow account. If you do NOT have 10% liquid to write a check please let me know so we can discuss other options