Making an Offer
Susan will provide to you the current market information and will assist you in drafting your offer. She will communicate the offer, known as an Agreement of Purchase and Sale, to the seller, or the seller’s representative, on your behalf. Sometimes there may be more than one offer on a property coming in at the same time. As your Real Estate Professional, Susan can guide you through this process.
There are generally two types of offers:
Firm Offer To Purchase
Usually preferable to the seller, because it means that you are prepared to purchase the property without any conditions. If the offer is accepted, the property is yours.
Conditional Offer To Purchase
Usually means that you have placed one or more conditions on the purchase, such as “conditional on a home inspection”, “conditional on arranging satisfactory financing” or “conditional on the sale of buyer’s existing home”. The property is not sold until all the conditions have been met.
Acceptance Of Offer
Your Offer to Purchase will be presented as soon as possible. The seller may accept the offer, reject it, or submit a counter-offer. The counter-offer may be in reference to the price, the closing date, or any number of variables. The offers can go back and forth until both parties have agreed or one of you ends the negotiations.