Making an offer
When it comes time to placing an offer, you will require the most up-to-date market information and assistance in drafting your offer. To do this, you will need a real estate professional.
A real estate professional will communicate your 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 at the same time. A real estate professional can guide you through this process.
Firm Offer to Purchase
This offer is usually preferable to the seller because it means that buyers are prepared to purchase the home without any conditions.
Conditional Offer to Purchase
This offer usually means that there are 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 conditions have been met.
Acceptance of Offer
An Offer to Purchase is presented to a seller who may accept the offer, reject it or submit a counter-offer. The counter-offer may be in reference to the price, closing date, or any number of variables. Offers can go back and forth until both parties have agreed to terms or either side ends the negotiations.