Offers to Purchase

Blog Series: Buying or Selling Your Home

Spring is in the air (well, sort of).  Traditionally, the coming of spring brings to Wisconsin a number of things: the ability to occasionally go outside, renewed hope in our Milwaukee Brewers, and the start of the real estate season.  Traditionally, the spring and summer months are the busiest times of year for residential home transactions – and the times when our firm is contacted most frequently by prospective buyers and sellers.

Whether you are a first time homebuyer, or a seasoned veteran, the process of buying and selling a home – replete with deadlines, stacks of paperwork, and legal and technical jargon – may be intimidating.  Fear not!  We are here to help.  Over the next few weeks, this Blog will discuss the home buying or selling process, including the following concepts:

  • Listing Agreements,
  • Why and When to Hire an Attorney,
  • The Offer to Purchase,
  • Contingencies,
  • Title and Title Insurance, and
  • The Closing.

Along the way, we hope to not only inform you, our readers, of the basics, but also to discuss some common misconceptions and pitfalls, answer your questions, and show you ways that we can help.

We hope you will join us for this discussion.  If along the way you decide you would like to meet with one of our real estate attorneys, please contact us at (608) 837-7386.

Disclaimer:  Please note that reading and/or commenting on this blog post does not create an attorney-client relationship with Eustice, Laffey, Sebranek & Auby, S.C. absent an express agreement between the firm and the client.  Contacting Eustice, Laffey, Sebranek & Auby, S.C. or any of its attorneys or employees via this website or via email does not create an attorney-client relationship.

Everybody likes a deal…

I, like everyone else, enjoy getting a deal.  Along these lines, given the current state of the real estate market, deal-seeking prospective buyers may be tempted to offer a seller an extremely low-ball offer.  However, as this Madison.com Property Trax article indicates, providing such an offer may actually backfire and prevent a buyer from acquiring the property.

The two main reasons cited are that a seller either (1) cannot (likely for financial reasons relating to the amount due on their mortgage), or (2) doesn’t need to accept such an offer.   In fact, a prospective buyer submitting a low-ball offer also risks offending a seller who, assuming they are in the second category, may not believe that the prospective buyer is serious about the transaction and then refuse to negotiate with the buyer at all.  Obviously, if we are dealing with a residential property, this can mean missing out on a buyer’s dream home.

As stated in the article, the important considerations when submitting a low-ball offer are justifying your number.  For a low-ball offer to be taken seriously, a seller must feel comfortable that the buyer is serious and has a basis for his or her number.  This is where having an experienced real estate attorney on your side is truly valuable.

Attorneys at Eustice, Laffey, Sebranek & Auby, S.C. have over 75 years of combined experience and are on the cutting edge of commercial and residential real estate law.  To contact one of our residential real estate attorneys, please call our office at (608) 837-7386, or send our law firm an email to schedule an initial consultation.

Disclaimer:  Please note that reading and/or commenting on this blog post does not create an attorney-client relationship with Eustice, Laffey, Sebranek & Auby, S.C. absent an express agreement between the firm and the client.  Contacting Eustice, Laffey, Sebranek & Auby, S.C. or any of its attorneys or employees via this website or via email does not create an attorney-client relationship.

We would be pleased to communicate with you by email. However, please note that if you communicate with us-through this website, via email, or otherwise-in connection with a matter for which we do not already represent you, your communication may not be treated as privileged or confidential and may be disclosed to other persons..