Obviously, the process of purchasing a home involves many steps. Here is a brief overview of what needs to happen when purchasing a home in the Maryland, Northern Virginia, or D.C. real estate market.
An earnest money check must accompany the Offer to Purchase. This can be a personal check, or it might be a certified check. Usually the amount is about 1% of the sale price of the house.
Once your written offer is presented, the seller will do one of three things:
1. Accept your offer
2. Reject your offer
3. Make a counteroffer
If necessary, negotiations are then conducted until an agreement is reached. The Sold By Sisler Team will work with you to decide how best to proceed. When the seller accepts your offer, or you accept their counteroffer, in writing, you have a binding contract for sale on that property.
Your earnest money will now be deposited in the listing broker's trust account to be held until closing. Once all the paperwork is signed you will be presented with the keys to your new home!
This is clearly a simplified explanation of all that is involved when buying a house. We realize you are likely to have many questions about buying a home in the Maryland, Northern Virginia, and D.C. real estate markets. Please feel free to contact The Sold By Sisler Team if you'd like clarification, or if you are ready to get started.