Hi, today i just went to an open house and i loved it. Problem is i don't know the proper steps to making an offer. Much like when Michael Scott from The Office thought just shouting"I DECLARE BANKRUPTCY" thinking that is the way to declare bankruptcy, my impression is to just call the listing agent and say, i will offer XX amount, and that is my way of making an "Offer"
So please help me, in not making a mistake in "making an Offer"
So this is what i plan on doing:
1. Call Listing agent, the person i spoke to during the open house
2. Say i will offer XX amount for the house
3. Also tell them i will be putting XX amount as down payment and the bank should cover the rest.
4. Offer is pending satisfactory inspection.
That is the extent of what i know to tell them, and to ask for. What else should i be doing?
Some more questions. If i tell the agent i want to buy the house and offer $300K, and the seller accepts, is that already legally binding? Or would i need to sign something before it is legally binding? Would the agent even just submit my offer to the seller without drafting any paperwork?
Edit: Also what about some tactics i should employ? Like offering lower than what im really willing to pay, etc?