But what pertains to owning a home?
Is it just making a payment for your dream home and moving in?
There are specific requirements that are mandatory when you decide to purchase a house.
Image: pixabay.com (modified by author)Source: UGC
You must receive an offer to purchase template.
Here is what you should know.
How to accept an offer to purchase letter?
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The document should havecertain particularswhich include:
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Can you pull out of an offer to purchase?
The answer is no.
Image: pixabay.comSource: UGC
Once a seller accepts the proposal to purchase contract, itbecomes legally bindingto both parties.
It is advisable to confirm your liking once more.
Is the property located in your desired location?
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Do the aesthetics, price, and fittings match your preferences?
Once you are sure of such matters, you might go ahead and prepare the offer to purchase template.
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How long is an offer to purchase valid for?
Image: pixabay.comSource: UGC
The document is valid in most cases, but there arefour instanceswhen it is termed as invalid.
Interesting to note, if signed by the seller, it becomes legally binding.
However, if the time allocated comes to an end, the offer is declared null and void.
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If either the potential seller or buyer dies before signing the proposal, it is declared null and void.
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What happens after offer to purchase?
Once both parties meet their obligations to the agreement, the buyer becomes the new owner of the property.
Image: pixabay.comSource: UGC
You will be more knowledgeable in knowing what to expect in every step of the way.
Any action you take upon the information presented in this article is strictly at your own risk and responsibility!
She graduated from the University of Nairobi with a degree in Mass Communication in December 2014.
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In 2023, Ruth finished the AFP course on Digital Investigation Techniques.
She has worked for Briefly.co.za for five years now.
She specializes in topics like lifestyle, entertainment, travel, technology, and sports.
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Email: gitongaruth14@gmail.com.
