Chat With Kim!

Welcome! I am Kim Schaaf, a real estate professional located in Oak Harbor! 
I am interested in:

A passion for education is at the core of who I am, so this website was created to help you no matter where you are in the buying or selling process, and even if you are looking for information on moving to Whidbey Island, purchasing a vacation home, or getting ready for a future move.

 

You can also search here to look at homes currently available in your market area. So take a look around and if you would like additional information, I am just a quick phone call or email away!

425-248-7548   |  kimschaaf@windermere.com

Kim Schaaf, Broker, Windermere

Copyright © 2019 Kim Schaaf | Real Estate website by The Lones Group

Making an Offer

When you find the home that is right for you, the next step is to write an offer. There is a lot of paperwork and forms that are involved, but we’ll work together so you are comfortable with the process and the documents. The purchase and sale agreement is a legal document and it is critically important that you have an advocate who understands the intricacies and is watching out for your best interests. 


My goal is to get what you want, and imagining the seller’s reactions will help you attain that goal.

Here is an outline of some of the offer’s important points:

Offer Price

You will be expected to provide a deposit or earnest money payment once the offer is accepted. Determining the amount you want to offer is up to you, but there are local norms. If the contract is not completed due to the seller or certain contingencies that were written into the contract, you will get your money back. However, if you decide to back-out of the contract, you will probably forfeit the deposit to the seller.

Earnest Money

You will be expected to provide a deposit or earnest money payment once the offer is accepted. Determining the amount you want to offer is up to you, but there are local norms. If the contract is not completed due to the seller or certain contingencies that were written into the contract, you will get your money back. However, if you decide to back-out of the contract, you will probably forfeit the deposit to the seller.

Financial Contingency

A contingency is essentially a “if…then” statement which allows you to gracefully get out of the contract if certain parameters are not met. A financial contingency indicates that in the event the buyer is unable to get financing for the property, assuming certain efforts have been exhausted, the contract would be cancelled.

Inspection Contingency

An inspection contingency indicates that if the home does not meet the buyer’s expectations in terms of flaws, and the buyer and seller cannot come to terms on a financial or work remedy, the contract would be cancelled.

Contingent on Sale of Other Home

Often the buyer needs to sell their current home in order to buy another. This contingency indicates that if those two closings can’t come together, the contract would be cancelled.

Closing Date and Transfer of Property

Your offer to purchase will also include your proposed closing date. A transaction is considered "closed" and the property changes hands once the deed has been recorded and funds dispersed. It is not always possible to occupy the property immediately which is something to negotiate.

Once we have completed the purchase and sale agreement, it is presented to the seller. If the seller accepts everything, including the price and contingencies, the offer becomes binding. If the seller chooses to negotiate, a counteroffer is made with either a new contract or with notations and substitutions made on the original document. You then receive the revised contract and you can either sign it, reject it, or make a counter offer.