Re: HIP HOUSE OFFER

[http://dummy.us.eu.org/robert (robert)]

I did talk with my lawyer, and I left a voicemail with you regarding this.

My lawyer thought there were a few problems with the "Offer to Purchase"
letter:

1) >$500 deposit.  My lawyer says that, if a broker were involved, the
   broker would usually require a 5% non-refundable deposit.  The 5%
   figure is certainly negotiable, but it would make sense to have a
   second larger deposit after either an appraisal report or an inspection
   report is issued, if not before.
2) financing contingency.  If you as buyer supply more than 20% down
   towards your loan, then there is less likely to be any problems with the
   loan.  Specifying that in the offer would alleviate any worries.
3) closing date.  A specific closing date or a range of closing dates is
   missing.

I guess once these issues are addressed, we can go through it again. :-)