Please update your browser.

We no longer support Internet Explorer. Using another browser will help protect your accounts and provide a better experience.

Supported browsers: Chrome, Firefox, Edge, Safari

Making an Offer and Closing on a Home

Once you find a house that fulfills most of your needs and wants, you will make an offer. Your real estate agent or attorney will write your offer.
Your offer tells the seller: “I want to buy your home. And this
is how much I am going to pay.”

What is in an offer

Your offer to the seller will generally include the following items:

  • The address and description of the property
  • The sale price
  • How much money you are offering to pay
  • Your target date for closing
  • The amount of earnest money you are offering to pay
  • How taxes and utilities will be handled

What else is in an offer

  • Description of who pays for things like title insurance, termite inspections, and property surveys
  • A clause stating that you have the right to walk through the property one more time before the sale is finalized
  • The date your offer expires
  • Contingencies
  • Special requests
  • Other terms required by the laws in your state or you and your real estate
  • agent think are important to include in your offer

You have made an offer

The seller then responds to your offer through your real estate agent or attorney.

  • in one of the following ways:
  • The seller accepts your offer and negotiations end
  • The seller rejects your offer and counters with an offer back to you
  • The seller rejects your offer and does not counter with an offer back to you

Home Inspection

Consider including a requirement in your offer that says it depends on results from a home inspection. This is a type of contingency. This means your offer is contingent on (or depends on) getting the results from the home inspection. You consider the results from the inspection and decide if you still want to purchase the home.
Getting a home inspection is one of the most important steps in protecting
yourself and your investment in the home buying process.
For more information on home inspections, go to and search for “home inspection.” Include your state’s name in the search for state-specific information.

Closing on a home

Closing is the last step in the home buying process. At closing, the loan becomes final. Funds are distributed to the seller and other professionals who receive payment at closing. This is also when you become the owner of the home.

Documents at Closing

You can expect to get the following documents at closing:

  • Closing Disclosure: This is the form that lists the final terms of the loan, final closing costs, and the details of who pays and receives the money at closing.
  • Initial escrow statement: This lists the costs the lender expects to pay from your escrow account. This includes estimated taxes, insurance premiums, and other charges during the first year of your loan. If there will not be an escrow account, this statement will be blank.
  • Promissory note: This is the document that details your loan.
  • Payment option information: You may receive information on how to arrange for your mortgage payments to be automatically deducted from your account at a financial institution.
  • Mortgage or security instrument: This document explains your rights and responsibilities as a borrower.

There may be other documents required by state or local law. Your lender may also have additional documents

Our Online Pre-Qualification Form makes it easy, fast and secure to apply

For information on home lending programs, contact Meghan Wenker or Heather Rider at 701-774-4139. For a FREE “Money Guide to Home Buying” email or go to
American State Bank & Trust Co. NMLS# 407966