The routine of presenting an offer goes like this. We will contact the lender to have the lender fax over a "90% letter". The offer/purchase contract along with the 90% letter and a brief one page introduction of you and your family are presented to the listing realtor for the seller's consideration.
There might be a time that we might feel it advantageous for us to present your offer directly to the seller. For example, if we know or get the idea the realtor on the other side is inexperienced, we will insist on presenting the offer directly. If on the other hand, the agent is an experienced realtor and one we have worked with in the past, we may feel comfortable in letting that agent present the offer themselves.
Getting back to the offer itself, let's touch on several highlights that will be of importance to you. Our market place is not like the markets in other areas.. As your realtor, it will be our responsibility to bring you up to speed concerning our local market place and current market conditions. Depending on market conditions, it may be wise to take Uncle Harry's directive that you never give full price.
On the other hand, it's not unheard of to offer more than the listed price. Again, this totally depends of the market place.
We will outline in our offer that we expect to hear back from the seller within "x" number of days with either a full acceptance of our offer or a suitable counter offer.
Suggested earnest money to be put down at the time you make an offer is $1,000 per $100,000 of the asking price. This will be part of the monies needed to close, not in addition. This sum of money will be placed in the trust account of Dynamic Properties as outlined by Alaska law and will bear no interest. Most of the times the listing agent will specify the earnest money amount in the MLS listing information print out.
If the offer is rejected and we fail to come to an acceptable, agreed upon contract we move on to another property and your earnest money is returned. If your offer is accepted, earnest money is maintained in the Dynamic Properties trust account until closing. At closing the money becomes part of the moneys you need to close.