#13 - Writing the Offer

Financial Considerations

It is standard practice to make a purchase offer contingent upon obtaining a mortgage. Because of this contingency, the seller will want the details of your financing plan included in the offer.

Down Payment
In the purchase offer, we can include the down payment amount you plan to apply toward the purchase. This will give the seller further evidence of your qualifications to secure a mortgage.

Interest Rate
Within the purchase offer, we can provide a safeguard against any dramatic change in interest rates between when the offer is made and when the loan is closed. The offer will not only be contingent upon qualifying for a mortgage, it can also be contingent upon an interest rate within a certain range.

Seller Assistance
If the house you select is at the top-end of your budget range, we may want to include a request for seller assistance to pay a portion of the closing costs traditionally paid by the buyer or to help "buy-down" your interest rate. Other seller assistance may include having the seller "carry back" a second mortgage to cover your down payment or even 100% seller financing.

With any of these seller assistance options, you can expect to pay a higher purchase price than if you had handled the financing through a traditional mortgage lender.

For all your Real Estate needs... Call
Mark W. Slagle, Owner/Broker
Twin Lakes Realty & Auction
865-382-1670
mark@markwslagle.com
Office: 865-397-3540
Firm # 5270

Contact Information

Twin Lakes Realty and Auction

868 S US Hwy. 92

Dandridge, TN 37725

Office:(865) 397-3540

MARK W SLAGLE Owner / Broker 865-382-1670 SRES, GRI, e-Pro, ABR

Twin Lakes Realty and Auction is licensed in the state of Tennessee. The Fair Housing Act prohibits discrimination in the sale, lease, or rental of housing, or making housing otherwise unavailable because of race, color, religion, sex, national origin, familial status, or disability. By registering on this website (providing your name and/or contact information) you are making an inquiry and are granting permission for an agent to contact you via telephone and/or email, regardless if you are registered with the national, state, or other Do Not Call list. The data relating to real estate for sale on this website is being provided for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Some or all of the listings on this website may not belong to Twin Lakes Realty and Auction.