Also, a good agent will have you begin the loan process immediately. We're not talking about getting pre-qualified, we're talking about getting approved for a loan. This will put you in the strongest possible negotiating position next to buying with all your own cash. Here is where your agent really begins earning his keep. After you have found the home you want to buy, it's time to make an offer.
Offers are always in writing.
There's a saying in California that an offer is only as good as the paper it's written on. The paper used in California is called a Deposit Receipt. All details of the offer are entered on this form, including the description of the property, the price offered, financing terms, duration of the offer, rights of the buyer to inspect the property, which party will pay which fees, etc. Your agent will assist you in setting an opening offer price by providing a list of homes sold recently similar to the one you are interested in buying. Your agent will then present the offer to the sellers and their agent.