It's Offer Time | The Ferris Team

It's Offer Time!

Let's do this!!! In preparation for an offer, we'll need to gather some information. Many of the details involved with submitting an offer are similar from offer to offer or something that we've already chatted about, so we'll pre-emptively fill those things in (of course, they can be amended if you have questions/concerns). However, there are several things that we'll need to discuss to fill in the rest. To get us started, please answer the questions below as best as possible. Of course, we'll talk through all of this and any other questions you may have before submitting anything official. Thanks!!

Desired Property - What's the address of the home that you're interested in submitting an offer on?

Name - How would you like to take title of this home? (Full name? First name and middle initial? No middle name or initial? This is how you will sign everything moving forward.)

Included/Excluded - Are there any personal items that you would like specifically included/excluded from this purchase?(Ex. Pool table, pool equipment/furnishings, bar stools, appliances, window drapes/curtains, playset, brush pile, dilapidated shed, etc)

Earnest money - How much would you like to offer for earnest money? It's a refundable deposit (typically ~1% of the price) applied at closing, but can be lost if you break the contract. A higher amount shows you're serious.

Financing - What type of financing are you using (Conventional, FHA, VA, or cash)? How much are you putting down? Do you have a pre-approval or proof of funds? Will you need help with closing costs (typically $3–4K for loans, ~$1K for cash)?

Closing Date-When would you like to close? It must be a business day. Most closings happen 30–45 days after offer acceptance. Avoid early Mondays or month-end to prevent funding delays

Home Sale Contingency - Is this contingent on the sale of another home?

Possession - Do you want to take possession at closing or would you prefer to offer the seller some possession after closing? (Typically, we want possession at closing, but sometimes it can make it a more attractive offer if you allow some possession.)

Survey-Would you like a property survey? They're around $225 and help spot issues like hidden utilities or encroachments. We recommend them, but note they're only estimates. Precise surveys cost much more. For large lots, pricing varies—let us know!

Property Use - Is this property going to be used as your primary residence, a secondary residence, or an investment property?

Inspection- Do you want an inspection, to waive it, or go 'as-is'? We strongly recommend an inspection, but waiving or going as-is can appeal to sellers. Let’s talk through your options

Home Warranty- Do you want to include a home warranty in your purchase? It starts around $500, depending on coverage and provider. You can also ask the seller to cover it—we can discuss strategy.

Price- Given everything we've discussed—especially any seller-paid costs—what price would you like to offer? There's a lot to consider here, so let's talk it through

Mailing Address - We need your current mailing address for a company document. Mind sharing that, just in case the one we have on file is incorrect or incomplete?

Escalation Clause- Interested in using an escalation clause? It lets you offer a base price but automatically increase (in set increments) to outbid other offers—up to a max you're comfortable with. Great way to stay competitive without overpaying

Appraisal Contingency- Interested in an appraisal contingency? It means you'd cover up to X of any gap if the home appraises low. It can strengthen your offer in a competitive market—worth considering if you love the home and plan to stay long-term

That's about it. Hit us with any thoughts you have here and we'll start putting together an offer for this property for your review and for us to discuss in more detail before signing and sending over. Thanks! Very excited for you!!!