PSL Process

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  • #68457
    padgeta2
    Participant

    Can anyone clarify the offer/contract process for me? If I find a house I want, and put an offer in, is that what goes on the PSL? Let’s say they don’t accept the first offer, do I need a new PSL? Or can we just mark through to make changes? Where do we get the contract from? What if the office isn’t open to get me a PSL? Where I’m located, homes are selling in a matter of hours. If I can’t get a PSL, what do I do? I watched the workshop and left with more questions than answers.

    #68458
    Nelsont
    Member

    If you find a house you like you email your MC requesting a psl. In the email include a link to the listing and list the details of the finances including offer price buy down taxes and total monthly payment. Also attach the official mls listing pdf (not the listing from the website-your agent will need to provide this) and the property tax sheet from the county website. Your agent can also help you out with this. Once you send the email your MC has 24 hours to provide a psl. Once you get the psl you can make an offer.

    Do not include the psl in your offer or contract. It’s for record keeping purposes only. It’s a check for your MC to make sure you are not trying to buy a house you can’t afford.

    If the seller doesn’t accept the offer you negotiate until they do. If you cannot agree then you move onto another house. Each house only requires one psl.

    Your agent or agency draws up the contract. Many agencies have employees whose sole job is to do this.

    The psl is an email. Your office being open or closed has no bearing. All MCs are working from home regardless of office status unless in California and 1 other office I think in Connecticut.

    Give your MC 1 business day to respond via email. Then call your local office administrator and ask for a psl. The rule is someone will help you out.

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