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Offer Review Checklist
Initial Review
Verify that the offer includes all necessary legal names of the buyers.
Check that the offer is signed by all parties involved in the transaction.
Confirm receipt of the initial earnest money deposit with the offer.
Financial Details
Examine the offered purchase price and compare it with the listing price.
Review the terms of the proposed financing, including loan amount, mortgage rate, and type of loan.
Assess any contingencies related to financing, such as the sale of the buyer's current home.
Closing Terms
Inspect the proposed closing date and ensure it aligns with the seller's timeline.
Review any seller concessions, such as contributions to closing costs.
Evaluate the feasibility of any requested property repairs or improvements.
Contingencies and Clauses
Analyze all contingencies, including inspection, appraisal, and financing contingencies.
Ensure time frames for contingencies are reasonable and feasible.
Check for any unusual clauses or stipulations that could affect the transaction.
Additional Provisions
Confirm the inclusion and acceptability of any personal property included in the sale.
Review any leaseback or rent-back agreements included in the offer.
Examine the offer for any buyer's broker commission requirements or stipulations.
Legal and Compliance
Ensure the offer complies with local, state, and federal regulations.
Check for the presence of any required disclosures or reports.
Verify that the offer includes all necessary addenda and amendments.
