The Create an Offer form in Brevitas provides buyers with a structured format to submit an official offer for a property. This form includes essential fields for offer details, financing terms, contingencies, and buyer information. It allows you to submit either a non-binding letter of intent (LOI) or a standard purchase contract, depending on the property type and transaction preferences.
Form Sections
1. Offer Status
• Located in the sidebar, the Offer Status shows the current status of your offer. If you’re still working on it, the status will display as Draft. As you finalize your offer, you can save it as a draft before submission.
• Tabs for Navigation: The sidebar contains easy-to-navigate tabs that take you to different sections of the form:
• Offer Terms: Where you input financial details and conditions of the offer.
• Offer Details: A section for additional text highlights and supporting documents.
• Investor Info: Fields for buyer identification.
• Submit: Final section to submit the offer.
2. Offer Terms
• This section captures the core financial aspects and terms of your offer:
• Offer Price: Input the price you are offering for the property.
• Finance Type: Select from available financing options such as Loan or other options, depending on your payment plan.
• Percent Down: Specify the percentage of the total price that will be paid upfront as a down payment.
• Earnest Deposit: Enter the amount of earnest money you are committing to the deal.
• Diligence Period: Define the number of days for the due diligence period. This is when you can assess the property before fully committing.
• Closing Period: Specify the desired closing period for the transaction.
• Contingent On: Select contingencies that apply to the offer, such as:
• Financing
• Appraisal
• Inspection
3. Offer Details
• In this section, you can provide additional context and information about your offer:
• Highlights: This is a free-text field where you can add a cover letter or summary of key points, including why you’re interested in the property and any unique terms of the offer.
• Documents: If you have supporting documents to accompany the offer, such as financials or proof of funds, you can upload them here. Simply drag and drop the files into the designated area or click to upload.
4. Investor Info
• The Investor Info section gathers details about the buyer submitting the offer. This includes:
• Name: Full name of the buyer or buying entity.
• Email: A valid email address for correspondence.
• Phone: Contact phone number.
• Company: The company or entity you represent, if applicable.
• Additional checkboxes allow you to indicate if you are interested in specific financial considerations:
• I Am Interested in Financing
• 1031 Exchange: Select this if you are planning to use a 1031 exchange to defer capital gains taxes.
5. Submit
• Once the form is complete and you’re ready to proceed, click the Submit Offer button located at the bottom of the form. This will officially submit your offer to the listing owner or broker for review.
• If you aren’t ready to submit yet, you can save your progress by clicking Save Draft in the sidebar. This allows you to revisit and make edits before submitting the final offer.
Tips for Using the Create Offer Form
• Be thorough with contingencies: Clearly outline the contingencies that apply to your offer (e.g., financing, appraisal), as these can significantly impact negotiations.
• Upload supporting documents: Include documents that strengthen your offer, such as pre-approval letters, proof of funds, or a personalized letter explaining your interest in the property.
• Save often: If you’re working on a complex offer, use the Save Draft feature to avoid losing any progress.
The Create an Offer form in Brevitas provides buyers with an organized, easy-to-use interface for submitting offers, ensuring all necessary details and documents are included for a smooth transaction process.