1. Earnest Money: How much earnest money do you plan to deposit to help secure the contract? Generally,
1% of the offer price is sufficient. Remember: earnest money is a portion of your ultimate down payment;
you’ll pay out the remainder of your down payment and closing costs at Settlement.
2. Down Payment: Have you discussed with your lender how much money you’re prepared to put down?
3. Purchase Price: Based on a Comparative Market Analysis of the property and surrounding properties, what
price do you want to pay?
4. Closing Costs: Do you want closing costs included in the purchase price? Or do you want to pay them at
Settlement? Contact your lender to find out the amount of your closing costs.
5. Deadlines: How soon do you want to move into your new home? Generally, a purchase contract closes in
around 30 days.
6. Home Warranty: Do you want home warranty (which ranges from $400-$550) included in the transaction? It’s
common to ask the Seller to pay for this.
7. Inspections: Consider what inspections you may want to do on the home: general home inspection; radon
gas; mold; meth; structural inspection; or any other testing you deem necessary.
Remember: No question is a bad question! Ask us… that’s what we’re here for!