In Steps 4 & 5 of how to buy a home we discussed searching for homes and finding the right one. In today’s post, we are going to talk about Making an Offer
Once you make the offer there will be several pieces of documentation you must sign and submit. Do not drag your feet as the offer can not be submitted without the whole package. The offer package includes: Your contract to purchase, the Massachusetts mandatory licensee disclosure form, your pre-approval or proof of funds and a check for your escrow deposit. Your escrow deposit is the first of two deposits you must put down to secure the home for purchase. The higher this deposit the stronger the offer. Typically minimum offer deposit is $1000 but it can be much higher depending on the value of the home and the strength of the offer. Even if you are using USDA or VA with 0% down payment you still need the deposits to secure the home.
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