How to Make an Offer on Federa
Overview
Federa offers is a streamlined process for creating and submitting real estate offers. This detailed guide will walk you through the entire process, from signing in to managing your offer.
Step by Step Guide
Sign In to Federa
Whether you are a new user or returning to our platform, you can log in by following our guide here.
You will be redirected to our Explore page. from there you can find a listing in a few different ways, either by using our search bar, viewing your Wishlists section (must be logged in), or asking Alex, our AI assistant for a specific listing.
Once you are on the page of the listing you wish to place an offer on, click the button "Make an offer" on the right. The following module will appear. You will need to fill in the following details to proceed:
- Offer Amount: This is the amount you wish to offer for the property.
- Security Deposit: Enhances the attractiveness and reliability of your offer. A higher security deposit indicates your commitment as a buyer. This deposit is applied to the sales purchase price if your offer is accepted, and if not, it will be released back to your Federa cash account, or you can request a refund through the Payments page. You can then use these funds to make another offer. Ensure your Federa account has enough balance before entering the security deposit in the offer; otherwise, the app will not let you submit the offer unless you deposit more to your balance by hitting Deposit here to increase.
- Deposit: Deposit to be made once the offer is accepted.
- Days to Deposit: Will only appear as a field if Deposit is greater than 0. Indicates the number of days you have to pay the deposit after your offer is accepted.
- Days to Cancel: After offer is accepted, this is number of days either party has to cancel the offer for any reason without any penalties.
- Days to Close: Number of days from offer acceptance date to the scheduled closing date.
Once you fill out all fields, you are able to review your offer before confirming it or you can go back to edit it. Your offer will then appear under the property details under the Offer section.
Managing Offers
- Edit an Offer: Once an offer is submitted, you cannot edit it.
- View Offers: The article here explains how to view offers. They can be found in the Offers section for each property's details page.
- Cancel an Offer: Beside the offer you made, you will see the option to cancel it. This action cannot be undone; you can only submit a new offer.
FAQs
When does the seller receive the contract?
As soon as you submit the offer.
Is there a deadline to submit offers?
Unless stated otherwise in the listing details, no.
How does the cash back language get added to the buy/sell agreement?
Once the service level has been selected, it automatically populates the corresponding terms to the Federa buy/sell agreement. For example, if the service level is DIY, the terms added will reference the 2% cashback. When LIVE the terms will reference 1% cashback.
Can the 3% buyers agent commission be modified from the Federa Buy/Sell Agreement?
No. A Federa Buy/Sell Agreement cannot have the commission modified. If someone wants a custom amount they will need to do a Full-Service Offer and can use a custom contract.
Can SmartBuy Live or DIY be conducted with a custom contract?
No. To be able to provide the cashback we offer, its required to use a Federa Buy/Sell agreement.
We believe in transparency and aim to provide the best possible experience to our users. If you have any further questions, please don’t hesitate to contact our support team at support@federa.com or by submitting a ticket; we're always happy to help!