When it comes time to make an offer, your REALTOR® will provide current market information which will aid you in presenting your offer.
Your Sales Representative will communicate the offer, sometimes known as an Offer to Purchase, to the seller, or the seller's representative, on your behalf. Occasionally there may be more than one offer on a property. Your Sales Representative will guide you through this process as smoothly and effortlessly as possible.
Firm Offer to Purchase
The seller usually prefers a firm offer because the buyer is prepared to purchase the home without any conditions. If the offer is accepted - the house is sold.
Conditional Offer to Purchase
This means that the buyer has placed one or more conditions on the purchase, such as "subject to home inspection," "subject to financing," or "subject to sale of buyer's existing home." The home is not sold until all the conditions have been met.
Acceptance of Offer
The Offer to Purchase will be presented at the earliest possible opportunity. The seller may accept the offer, reject it, or submit a counter-offer. The counter-offer could include many factors, including changes to the closing date and the purchase price. Offers may sometimes go back and forth many times until both parties have reached an agreement, or until one of the parties terminates the negotiations.