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Michael DeRosa Exchange
50 East Genesee Street
Skaneateles, NY, 13152
2127571550
ONE-OF-A-KIND & SPECIAL QUALITY PROPERTIES
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Michael DeRosa Exchange
Home
ABOUT
SERVICES
SALE METHODS
ADVERTISING
INTERNATIONAL
ADVISORY
SOLD
SHOWINGS
PRIVATE LISTINGS
OFFER PROCEDURE
LOCATIONS
CONTACT
Fair Housing
Privacy Policy
LIST WITH US
PURCHASE OFFER INTAKE FORM
Property Address Buyer is making offer on
Name of Buyer(s)
Physical Address of Buyer
Mailing Address of Buyer, if different than physical address
Telephone Number(s) of Buyer
Email Address of Buyer
Purchase Offering Price $
Offer wisely, it is recommended that Buyer’s always make their best offer so that they don’t feel bad if they lose the house. If you offer too low, you will insult the Seller and could ruin your chances of ever having your offer accepted or even responded to with any counteroffer.
Purchase Offer Good Faith Deposit Amount $
1 - 5 % of purchase price is recommended for offers with a bank loan financing contingency. 10 % of purchase price is recommended for cash offers. Offer Deposits are to be made payable to "Michael DeRosa Exchange, LLC" Write "Property Address" on Check Memo and "Purchase Offer Escrow Deposit"
Balance of Purchase Price paid in
CASH
THROUGH BANK LOAN FUNDING
Mortgage Loan Amount $
A minimum 3 - 5 % down payment is typically required by lenders. Consult lender for “good faith estimate” of closing costs and total out of pocket "cash to close" needed at closing, including down payment requirement.
Mortgage Expense:
If Buyer is including a portion of their closing costs in the purchase price and rolling the costs in the loan amount it will be treated in the purchase contract as a "Mortgage Expense". "Seller's Concessions" are allowed as a mortgage expense amount typically between 3.5% - 6% of the purchase price. If Buyer is rolling closing costs into the loan amount, consult with lender to confirm the total amount allowed.
Type of Mortgage
Conventional Mortgage Loan
FHA Loan
VA Loan
USDA Loan
Term of Mortgage
15 Year Mortgage
30 Year Mortgage
Mortgage Application Date
Buyer will apply for mortgage loan and make application within 5-7days of accepted offer.
Name of Bank Buyer is Applying for Loan with
Mortgage Commitment Deadline Date
30 days to receive a written mortgage commitment letter is common typical for offers made with bank financing.
Closing Date of Transaction
30 day for cash purchasers and 60 days for mortgage purchasers is typical.
Possession of Premises
Possession of Premises Granted the Day of Closing
Possession of Premises Granted subject to existing tenant leases.
Home Inspection
Days for Completion of Home Inspection & Radon Test: “Days for Completion of Home Inspection shall begin once purchase offer becomes legally binding on Buyer and Seller.”
Yes - (5 calendar days is recommended to complete inspection)
No - Waive Home Inspection
Radon Test
“Days for Completion of Radon Test shall begin once purchase offer becomes legally binding on Buyer and Seller.”
Yes - (5 calendar days is recommended to complete testing)
No - Waive Radon Testing
If Buyer’s Lenders requires repairs to premises
For FHA Loans Buyer’s will typically pay up to $1,000 if Buyers lender requires repairs.
Pest inspection Required by Buyers Lender
If required by Buyer’s lender, cost of inspection is typically paid by Buyer
Other Inspections or Tests Buyer is Seeking?
Included in Purchase Price
ie: kitchen appliances, laundry appliances, boat hoist, dock, storage shed, hottub, home furnishings, etc. ie: additional land parcels, etc.
Does Buyer intended to use home as Buyer’s primary residence
Yes
No
Well Testing
to be completed by closing Paid by Buyer
Water Purity Test
Water Flow Test
Not Applicable
Septic Testing
to be completed by closing Paid by Buyer
Septic Dye Test
Septic Pumping
Not Applicable
Sale of Buyer’s current home contingency or transfer of title, other exiting property being sold
None
Sale of Buyers Current Residence
Closing of and Passing of Title on Buyers Existing Residence
Preapproval Letter and Proof of Funds:
Pre-Approval Letter on file? letter should be recently dated within the past 90 days and submitted with purchase offer.
If Preapproval Letter or Proof of Cash Funds Letter is not readily available at time of writing offer; we will note in purchase offer addendum when it will be provided. i.e. “Buyer will provide Seller with proof of available cash funds letter and/or mortgage pre-approval letter within 3 business days of offer acceptance otherwise this offer shall become null and void.”
Offer Expiration Date:
Valid for 24 - 48 hours is recommended so Seller and Listing Agent have limited time to shop your offer with other Buyers. Purchase offer doesn’t list an “Offer Expiration Date” Therefore, we will write the following language under item, OTHER CONTINGENCY: “Buyer reserves the right to withdrawal offer if response from Seller is not made within 24 - 48 hours of submission”.
Valid for 24 - hours
Valid for 48 - hours
Name of Buyer’s Real Estate Closing Attorney and Contact Info
Attorney Review & Approval Period: Purchase offer automatically becomes approved and binding as written if attorney does not respond within required time period, consequently the attorney approval becomes waived.
Thank you!