Grow your real estate investing business with the most competitive and transparent private lender for bridge loans (hard money, fix & flip, rehab, ground up construction), DSCR rental loans.

Private Lender for DSCR Loans and Fix & Flip Loans | OfferMarket

Private Lender for DSCR Loans and Fix & Flip Loans

If you are buying a house and you are requesting a repair, concession, or change in purchase price, then the answer is yes -- you need to provide the inspection report to the Seller to validate your request.

Is the buyer required to share the home inspection report with the seller? If you are requesting a repair or concession based on defects found during a home inspection, the answer is yes.

Does Buyer need to provide home inspection report to Seller?

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Does Buyer need to provide inspection report to Seller?

Does the Buyer need to provide the inspection report to the Seller?

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## Why is my house not selling?

 

The most common reason a property fails to sell is an unreasonable asking price by the seller. An asking price that's too high is the surest way to increase your days on market and have a "non-starter" listing that buyers simply ignore. 

 

That's why it's so important to price your listing based on an objective review of your property and local market data:

 

- what is the condition of your property?
- what are similar homes selling for? (see [comps](https://www.offermarket.us/real-estate-glossary/comps))

 

With this additional perspective, you can make an informed and confident decision to price your listing at a point that will get as many qualified buyers as possible to take the next step in the transaction process: schedule a tour or submit an offer.

 

Pricing your listings is an art and a science, and when done correctly you attract enough interest to generate multiple competitive offers -- in many cases above your asking price! When you list your property on our marketplace with our Get Offers service, we provide you with the research and data to make a smart pricing decision.

 

Here's a short list of common reasons a property fails to sell:

 

1. unreasonable asking price by the seller
2. major structural issue(s) dramatically reduce your pool of buyers
3. area with low demand (i.e. rural or otherwise undesirable)
4. unique property with limited pool of buyers

 

Our friends at Ownerly put together a helpful article, [My House Won't Sell: 10 Reasons Why](https://www.ownerly.com/home-selling/my-house-wont-sell/), which we recommend giving a read.

 



We're committed to empowering everyone to buy and sell real estate without agents or commissions. If you have any other questions, message us!

The most common reason a property fails to sell is unreasonable asking price by the seller. We added a few more to the list to share our knowledge with you.

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What is the most common reason a property fails to sell? - OfferMarket FAQs

What is the most common reason a property fails to sell?

## In a rush? [Get your free home sale docs!](https://forms.gle/ZXNDfumpzNmkupnL7)

 

## Purchase And Sale Agreement

 

Regardless of whether you sell your house with or without an agent (For Sale By Owner), the most important document you need is a Purchase And Sale Agreement. Commonly referred to as the "PSA" and "Contract Of Sale", this form is the legally binding agreement signed by both the Seller and the Buyer, that details the terms upon which real property (i.e. your house and the land it sits on) will be conveyed from you to the Buyer.

 

In most cases, the Buyer will submit their offer to you formally as a Purchase and Sale Agreement, and it will contain the following terms:

 

- **Purchase Price:** the amount the Buyer will pay to the Seller
- **Earnest Money Deposit:** the amount of money the Buyer will place in an escrow account as a good faith gesture once the Seller accepts the agreement. If the Buyer fails to perform their responsibilities in the agreement, the Seller will receive the Earnest Money ("EMD") as damages. This amount is typically 1% - 2.5% of the purchase price of the home but can be higher in a hot housing market.
- **Acceptable financing:** the types of financing the Buyer can use (i.e. cash, conventional financing, FHA financing, VA financing, seller financing)
- **Close by date:** the date by or before which settlement will occur
- **Inspection window/Study period:** for how long will the Buyer have the right to inspect the property?
- **Contingencies:** what would allow the Buyer or Seller to cancel the agreement and have their Earnest Money Deposit refunded? Common contingencies include inspection results, financing falling through, and buyer's home sale falling through.
- **Closing costs:** how will items such as documentary stamps, recordation taxes, State and local transfer taxes be allocated to the Buyer and Seller?

 

### [Read: Pro Tips To Get Your Offer Accepted](https://dwshorowitz-offermarket.medium.com/pro-tips-to-get-your-offer-accepted-f050ab6358a0)

 

In traditional real estate transactions, this document is signed by the Buyer and then provided to the Seller or Seller's Agent by the Buyer or Buyer's Agent as their formal offer. If the Seller accepts the terms in the agreement, they sign. Once the agreement is signed by the seller ("acceptance"), the contract is considered executed and the responsibilities detailed in the agreement for each Party must be met.

 

### Property Disclosure or Disclaimer Statements

Certain states require the Seller to provide property disclosure or disclaimer statements to the buyer before the buyer formally submits their offer. This requirement is commonly waived if the buyer does not intend to live in the property.

 

## Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards

To cover your bases, you should complete the EPA's Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards form.

 

## Want home sale documents sent directly to your inbox?

 

Fill out the form below and we'll send you our standard home sale documents specific to your state.

 

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## Selling your house For Sale By Owner is easy with OfferMarket

 

When you sell your house For Sale By Owner with OfferMarket, we manage everything for you. That includes buyer verification, tour requests, documents and closing coordination.

What documents do I need to sell my house without an agent? We'll answer this question and provide you with templates.

What documents do I need to sell my house without an agent?

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What documents do I need to sell my house without an agent? - OfferMarket FAQ

In order to ensure a smooth experience with OfferMarket Capital's construction loan product, please review this overview of best practices for draw processing.

 

## Creating Draw Schedule Budgets (Scope Of Work, "SOW")

 

- Make sure all line items total correctly – math errors cause underwriting delays!
- All draw schedules/budgets need to be included as an exhibit in appraisals
- Be detailed and specific in line items to avoid confusion or underfunding during inspections. *For example: if there is a wall that will not be drywalled because it will be wood or stone, note that in the drywall section so the inspector does not shortchange the drywall budget.*

 

## Change Orders: Modifying Draw Schedules

 

Occasionally, there is need to modify a draw schedule after underwriting approval/closing and before the first draw (borrower had no access to property before closing and had to estimate line items, etc).

 

- the **total construction reserve amount cannot change** from the amount of the original budget approved by underwriting
- line items can change slightly
- **No front-loading** (significant shift of more funds to the beginning phases of the project)
- **No decrease in bathroom or kitchen budgets** (this can negatively affect the potential ARV)
- **No changing of draw schedules** after the first draw

 

## Ordering Draw Inspections

 

- provide draw schedule with a column clearly stating percent complete next to each item being inspected
- inspectors WILL inspect items that are NOT 100% complete
- we do not reimburse for any materials not on site (even with paid receipts)
- we reimburse 50% of line item for materials on site, 100% once they are completely installed

 

### Step-by-step draw process

 

1. submit draw request to hello@offermarket.us with the address of the property in the subject, and the name, email and phone number of contact person for inspector. Include lock box info if applicable.
2. our draws department will send you an email stating that inspection has been ordered or asking for more info
3. our draws department will send a Docusign with draw fee wiring instructions
4. the inspector will contact you by next business day to schedule inspection
5. the draw inspection report will be submitted within 1 full business day after inspection
6. inspection report is reviewed and wire is sent
7. loan officer gets copy of wire and inspection report the evening the wire is sent

 

## Frequently Asked Questions

 

### How long does the draw process take?

 

The entire draw process (from submission to wire) takes approximately 5 business days.

 

## What is the fee per draw?

 

The draw fee is $280. This fee is paid directly to the assigned inspection company.

 

## Is there a per draw limit?

 

There is no funding limit per draw.

 

### Can I appeal a draw?

 

Contact the original draw email thread with your specific issues and any supporting documentation and a resolution will be reached ASAP.

Everything to know about the draw request process for OfferMarket Capital construction loans

Does the Buyer need to provide the inspection report to the Seller?

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