Types of Offers
Firm Offer to Purchase: Usually preferable to the seller, because it means that the buyer will purchase the home without any conditions. If the offer is accepted, the house is sold.
Conditional Offer to Purchase: Means the buyer has placed one or more conditions on the purchase, such as subject to home inspection, subject to financing, or subject to the sale of buyer’s existing home. The home is not sold until all the conditions have been met.
We shall review this offer so all of the legal implications are understood by you. You have the ultimate choice. You can accept the offer, reject the offer, or make a counter offer.
Negotiating with Buyer
Acceptance: When you, the seller sign, accept and agree to all the terms and conditions exactly as set forth in the Offer to Purchase and Sale, this Agreement becomes a legal binding contract that you must fulfilled.
Rejection: When you, the seller does not agree with any of the terms and conditions set forth in the Offer to Purchase, the deal dies.
Counter offer: You, the seller agree with some of the terms and conditions of the offer, but not all of them you then make a counter offer. In the counter offer you may change the price, the closing date, or add or delete conditions. When the buyer receives the counter offer, he or she can accept the new terms and conditions or reject them.
A signed offer is a binding contract. I will make sure you understand and agree to all of the terms before you sign. All concerns you have will be itemized on the offer and explain any conditions set forth.