While many of the homes for sale in the Phoenix real estate market happen to have garages, these properties can’t be purchased as if you’re at a garage sale.
“Seventy-eight thousand, huh? Tell ya what. I’ll give you $20,000 cash but I also want you to throw in that Spuds McKenzie poster.”
If you want to purchase a home in the Phoenix real estate market, whether bank owned or otherwise, you need to fill out a purchase contract. If you’re doing this on your own, you can write the contract out on a cocktail napkin (though I advise against it.) If you’re using a real estate agent, you’ll almost certainly use the Arizona Association of REALTORS’ Residential Resale Purchase Contract.
This 9-page form contains all the particulars of your offer from purchase price to earnest deposit, close of escrow date to financing details. It also explains the responsibilities of both buyer and seller in a real estate transaction.
I could go on about the particulars here but I’ve already done so this morning on my Phoenix bank owned homes website. The “Make an Offer” page is fairly basic for the time being but will grow as I add more details and more off-the-wall questions come in.
The reason for the page is simple … more and more I’m hearing from folks who send e-mails that say “I want to offer $20,000” with no other details. Unfortunately, there’s not a thing I can do with such a thing. Without closing dates, financing details and – oh, by the way – signatures, there’s no offer to submit.
And don’t even get me started on Spuds McKenzie, which could be the only SPDS you see.
[tags]Phoenix real estate, bank owned homes[/tags]