Boca Expert Realty Real Estate Blog

If you have found the Boca Raton real estate you are ready to buy, the first order of business is a purchase offer. A spoken offer is not a legal offer when it comes to the real estate market. The seller of the home and the prospective purchaser must have a written contract specifying terms of the offer as well as the purchase terms. This is the standard procedure for making an offer on a home you want to purchase even if you are willing to pay the asking price or pay with no financing.

The purchase offer must be written to the specifics of the state in which you live. Boca Raton real estate is subject to the State of Florida rules and regulations. The purchase order is filled out with the specifics and is usually only open for a short period of time. This offer will tell the seller what you are willing to pay for the property and give them a chance to either accept your offer or come back with a counter offer. At this time an earnest money deposit is put up by the purchaser as a good faith gesture that they are serious about purchasing the home.

When this purchase offer is signed by the prospective buyer and the seller it is considered a legal contract. It graduates from the status of purchase offer for the selected Boca Raton real estate to a purchase agreement. Other names by which it is often called are purchase agreement and earnest money agreement as well as a deposit receipt. This is the first step towards the purchase of the home you have chosen. 

For more information on Boca Raton Real Estate and finding the home of your dreams, please visit my website or contact me at 561.866.7584.