Home Buying in 75061>Question Details

Gia, Home Buyer in 76039

need a template of home buying "offer"

Asked by Gia, 76039 Tue Aug 2, 2011

I want to look professional. Since the seller and US are not "using" a real estate agent, its a transaction btwn seller and buyer....thx!

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You can go to the TREC web site and pull a contract off the site but unless you know what you're reading and signing, I doubt it will make you look professional.The best money you'll spend on this endeavor will be to have an attorney draft up your contract. It won't cost much but it can save you a ton of headaches down the line. "Use" a professional and you'll look professional.
Web Reference: http://www.phgbrokers.com
3 votes Thank Flag Link Tue Aug 2, 2011
Michelle,
You are asking for a legal tool you may not be qualified to use. If you are not using an agent, find an attorney to draft this for you. There are so many considerations to bear in mind and the consequences are so high don't rely on your best intentions and hopes.
As agents we are trained on our contracts and retrained as things change. Beyond that we have insurance to cover our errors and omissions. You can't pick up what you need to know in a few minutes over the internet unless you are already an attorney.
3 votes Thank Flag Link Tue Aug 2, 2011
Michelle,

It would not be professional of us to provide this to you.
There just seem to be a million reasons why I would not suggest you fill out the forms yourself.

1. Do you know what an option period is?
2. Do you know if the days are calendar or business days?
3. Do you need a seller's disclosure?
4. Do you need a lead based paint disclosure?
5. What is the legal description of your home?
6. Do you have a T-47? When do you need one?
7. Are mineral rights included?
8. Do you need the HOA forms?
9. Do you need 3rd party financing forms?
10. Can the buyer do an inspection, even if you check "as is" on the contract?
11. Who gets the earnest money?
12. Who gets the option money?


If you can't answer these questions immediately, I would not suggest you write the contract yourself. If you don't want to use an agent, at least you can use a lawyer to help you.
A real estate transaction is likely one of the largest transactions and investments most people will handle. Why not leave it to a professional? Don't put yourself at risk.

We can help you if you need help.
2 votes Thank Flag Link Wed Aug 3, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Michelle,

If you want to appear professional...dress the part because no form, canned program, or online advice will provide you with enough experience to avoid litigtion when things fall apart.

As the buyer, you always have the option of having your own personal representation...at the very lease, you should consult an attorney.

Best wishes,

Bill
2 votes Thank Flag Link Wed Aug 3, 2011
I'm a broker - please don't do this yourself. I don't want anyone to find out what we is of no real value, especially now that the internet has freed much of the informaion that used to be our stock-in-trade..

I want to keep making tons of money for doing essentially nothing. Please don't sell or buy wihout me!!!
1 vote Thank Flag Link Wed Mar 20, 2013
There is nothing wrong with visiting the Texas Real Estate Commission and downloading the promulgated forms there.

You may have some questions after you do that, such as which forms to use and what to fill into the blanks. What you fill in the blanks makes each contract customized to the situation of buyer and seller, as well as which forms are included. The promulgated forms are created by a committee of real estate brokers and real estate attorneys, and they're designed to be filled in by Realtors, who are trained on the whole process including the forms.

As you can tell from the suggestions that you use a Realtor to assist in the transaction, the process may seem simple on the surface, but the costs or consequences of using your best judgment without proper training can be devastating on your future finances. It is somewhat akin to reading on the Internet how to perform an appendectomy and going down to the store and buying knives for the surgery. Yes, you can do it, but you may be more than disappointed in the results. We're not doctors, but the scars from a botched real estate deal can follow you for years - in some ways it can be more serious because of the total values involved.

Why not ask one of the Realtors who have or can offer to assist you for a nominal fee? We don't discuss fees because of Federal law, but most of us here will help you for far less than you think. Just ask.
Web Reference: http://www.SumnerRealty.com
1 vote Thank Flag Link Thu Aug 4, 2011
You should find an agent and pay them a flat fee to handle the contracts for the both of you. It will be the easiest way to ensure everything goes smoothly.
0 votes Thank Flag Link Wed Aug 3, 2011
Caveat Emptor!

Dennis.Anderson@century21.com
Web Reference: http://bit.ly/ReUpdate
0 votes Thank Flag Link Wed Aug 3, 2011
ONLY a Realtor can use state approved forms.

Recommend office supply store.

All I can state good luck many times these types of transactions where either party does not know about real estate transactions can end up being sued, loss of earnest money, and much more

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Wed Aug 3, 2011
An offer can be on a cocktail napkin and be serious! But okay Just state as follows, that You would like to offer X amount of dollars for their home. If the offer is lower than asking then it would be nice but not necessary to explain why you made a lower offer. explaining the offer may at times make the seller realize that they may need to accept the offer because the items mention are true. Things like the Carpet is quite worn or the Kitchen appliances are quite old can be reasons. Do not insult a person with a very low offer, Rule of thumb is if the offer is not at least 90-95% of asking, you are being insulting, though you may offer less if the roof looks bad and the house is in bad shape.
0 votes Thank Flag Link Wed Aug 3, 2011
Your Seller does not want to use an Agent to save him some money, and you went along.
Now neither of you have the guidance nor the protection:

This is sort of like protecting someone from hurting themselves.

If you went to the Emergency room and asked them to oversee you while you Doctored yourself, would you think that that was crazy?

Good luck and may God bless
0 votes Thank Flag Link Wed Aug 3, 2011
If you don't want to go to an attorney take RJ up on his offer. He can also help you find a closing agent.
0 votes Thank Flag Link Tue Aug 2, 2011
Pay an attorney to write the offer for you. You will need an attorney or title company to close the transaction anyway. You definately should have a title search and title insurance.

It should not cost more that a few hundred dollars and could save you thousands to meet with an attorney and have the contract written. There are closing cost that are customary for buyer or seller to pay. Your contract should dictate who is paying which fees and cost at closing. There are expenses on the buying and selling side. It will also have contingenncies upon home inspection, financing, etc. It should indicate what happens to your escrow deppsit if you or the seller fails to complete the transaction.

Otherwise, if you are a brave soul and don't care if the contract does not protect your best inerest, Office Depot or Home Depot may have a generic form. The generic form may not necessarly meet with Texas law but it can get the job done.
0 votes Thank Flag Link Tue Aug 2, 2011
If you want a licensed broker to do this I would be happy to for a flat $400 paid at closing. Call me at 214-682-0598.

Thank
RJ
0 votes Thank Flag Link Tue Aug 2, 2011
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