MAKING AN OFFER
When it comes time to make an offer, your Real Estate Sales Representative can 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. Sometimes 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
Usually preferred by the seller because it means that you are prepared to purchase the home without any conditions. If the offer is accepted, the home is yours.
Conditional Offer to Purchase
Usually means that you have 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 the Offer
Your Offer to Purchase will be presented at the earliest possible opportunity. The seller may accept the offer, reject it, or give a counter-offer. The counter-offer could be in reference to any number of factors, including the closing date and/or the purchase price. The offers may sometimes go back and forth until both parties have agreed upon an offer, or until one or the other ends the negotiations.