Time Frames

I have some questions regarding the whole buying process. The other day we found a home that we liked and were going to put a bid on. I felt that I was being pressured with the amounts that she wanted us to put down when the contracts were signed as well as the days to close. I do not want to close for a few months. Now she is pressuring me and keeps sending me emails about getting an engineer set up, a lawyer. So basically my question is, does everything happen so quickly once an offer is accepted? Also, if the offer is accepted can we then make changes to the amount we are putting down at the signing of the contracts? I hope she was not using that as a way to get the owner to accept the bid.

My DH and I just want to make sure that financially we will be ok.

Thanks for all your help.

Re: Time Frames

generally, once the offer is accept you as the buyer want to get the engineer ASAP so the contracts can get signed. On that one, I agree with the seller. She will have confidence in you as a buyer if you get the engineer in soon.

As for the $$$ down at closing, discuss this with your attorney first. Don't feel pressured to put x down at closing. It should be an amount discussed between attornies if it gets difficult

Re: Time Frames

Who is "she"? The RE agent?
You would not set up an inspection until you have an accepted offer.
You put down an amount you are comfortable with. There are some sellers who want more $$ but there are just as many who aren't picky about it.
As for closing date, same thing. You choose a closing date you are comfortable with. If the sellers don't like it, they will tell you in their counteroffer.

Yes, these things can be changed before going into contract. Just be aware - if you agree on an amt down and a closing date and then decide you want to change it on the contract, the sellers might back out and if you spent money on an inspection and attorney, thats money you won't get back.

So basically - don't let anyone pressure you to make an offer you are not comfortable with. Discuss the amt down and closing date you want and put that on your offer. See what happens and go from there.

Re: Time Frames

Did you end up putting in an offer and having it accepted?

The things the real estate agent is asking about seem to be the next steps you take after your offer is accepted. We were asked the same questions by our seller (since it's a FSBO) when they were going to meet with their attorney to draw up the contract.

I'm not sure if DH provided the amount we would be putting down but, we definitely provided our lawyer's contact info so he could be sent the contract after it was drawn up. Your realtor should be able to recommend a lawyer to work with.

Re: Time Frames

Re: Time Frames

the sellers want to go to contract as quickly as possible, so they don't have to keep looking for buyers. I would think that you might have some leeway in closing time though.

usually people schedule the inspection fairly quickly and sign soon after the report, but it is a buyers market now, so remember that you hold the power in the situation. It's YOUR money!