Completing the offer contract
Hi BP family,
Need help I am a newbie real estate agent and wholesaler. I am in California and I will be putting in offers on REOs for myself. Assuming I've done my due diligence on the property and ready to make an offer, what areas of the contract must be completed? I want my offer to look attractive to the bank but I don't want to lose my EMD in case I have to back out. I have to start somewhere, so I am ready.
I know if the bank accepts my offer they will send an addendum and some things can change.
I have started the contract and here is what I have so far after putting in the property info and listing broker info:
Close of Escrow shall occur 5 days after acceptance (I know the banks take longer than that to close)
I will have an EMD with this term: Earnest money to be deposited with escrow upon acceptance and ratification of offer. (I will have a copy of my EMD check attached to offer)
All Cash Offer (I will have a transactional funding letter attached)
10 inspection period
Disclose I am a licensed agent
Ok that is it. What other areas of the California Residential Purchase Agreement.... should be or must be completed?
Any help and advice with this will be MUCH APPRECIATED. Thank you in advance.