Writing an Offer to Purchase - 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 will include the down payment amount you will apply toward the purchase. This will give the seller further evidence of your qualifications to secure a mortgage.

Seller Assistance
If the property 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. Other seller assistance may include having the seller "carry back" a second mortgage to cover your down payment or seller financing.

With any of these seller assistance options, you could possibly pay a higher interest rate than if you had handled the financing through a traditional mortgage lender.