Tip 7. Sign Purchase Agreement

If you are ready to make an offer, you can ask the seller for a purchase or sales agreement. Most sellers will have all necessary documents readily available. An example of a purchase agreement can be seen at MiaDomo's real estate forms. You can also ask a real estate agent for a sample purchase agreement, but beware that the seller will have to pay up to 7% of the cost of the house to work with a real estate agent. When negotiating you can make a verbal offer, or write an offer on the purchase or sales agreement. The seller might not accept your first offer and will make a counteroffer, which you may in turn decline and then counter. The negotiation process will last until both parties agree on the final price of the property. At this point both parties sign the purchase agreement with final price of the property. Read carefully before signing to be sure you understand any additional terms that might be included (read about additional terms in the next section).

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