Info Required is all about the information required to write an offer for you. It is the third step in the Writing Offer process.
The Info Required process is shown below.
Having a Lender Letter helps you get your offer accepted.
Common choices include: severalty (for one person or entity), joint tenants or tenants in common.
You'll need this to make an offer.
Mark this task complete once you know how you'll take Title to the Property.
- Offer price
- Earnest Money amount (default to what Seller is asking in the MLS)
- Who will pay the Closing Services Fee (usually around $300 to $400 depending on the Title Insurance Company)
- If you're negotiating/insisting on choosing Title Insurance Company, then which Title Insurance Company you want to use.
- Who pays for Appraisal (it is customary for Buyer to pay)
- Who pays for Owner's Title Insurance Policy (it is customary for Seller to pay)
- What Loan type or types are you considering using to finance the purchase?
- How much Down Payment are you going to put down?
- Any Additional Provisions you want added? Common ones might include: additional disclosures for Fort Collins (which we typically add for you by default), limited appraisal language, light or limited inspection language and asking for personal property (which may complicate your ability to get a Loan to cover those).
- How much are you asking for in Seller Concessions?
- Is there a property you must sell before you can buy this?
- Are you offering the Seller a "Post-Closing Occupancy Agreement" to allow them to stay in the property beyond Closing?
- What due diligence documents are you requesting?
- What is your travel/work schedule like? Will it impact inspection? Will it impact Closing?
Mark this task complete once you've emailed your Real Estate Broker the information they need above to write your offer.
- Does it include Air Conditioning?
- Does it include window blinds for the entire property? Some builder don't include any. Some include just a few windows.
- Does it include backyard landscaping?
- Does it include a fence?
- Does it include all appliances? Refrigerator? Dishwasher? Stove? Microwave? Clothes washer? Clothes dryer?
- Does it include garage door opener?
- Does it face north? North facing lots often have icy front steps.
- Does it get sunlight in the rooms you desire at the times of day you desire? This varies by person, so consider it for yourself.
- Do you want a corner lot? Some people prefer not having another neighbor. Some people prefer not having to shovel two long sidewalks and having people walking on the side of their homes.
- Is there a lot by open space or other desirable feature?
- Is the lot by a busy street?
- Is the lot on a street that most people will need to drive by to access the neighborhood?
The Info Required stage consists of the following steps with brief explanations of what is included in each step:
- Your full legal name(s) – As you want it to appear on the deed to your property
- Full address of property (I usually have this)
- Offer price
- How much are you putting down?
- Type of loan? FHA? Conventional? Other?
- Seller concessions? How much?
- Closing date?
- Inspection contingency?
- Financing contingency?
- Appraisal contingency?
- How long does Seller have to accept offer?
- Pre-Approval Letter (or Proof of Funds) for your offer
- Do you want Owner’s Extended Coverage (OEC)?
Once you’ve given your real estate agent the Info Required, they can Draft Offer.
IMPORTANT NOTE: This checklist is based on what I personally use with clients in Northern Colorado. Please rely on your local real estate agent for how it works in your local real estate market. This process will definitely vary in different States.