When someone has decided to make an offer on your home, they will submit an Offer to Purchase agreement to your Preferred Properties agent who will, in turn, present the offer to you. The purchase agreement includes the price the buyer is offering, amount of their down payment, amount of earnest money, the terms they desire and the date of closing. These terms will include the type of financing, possession date, and any other conditions they desire.
After you examine the offer, you'll know whether the price is acceptable or not. Your Preferred Properties agent will review the price, terms and conditions with you in detail to make sure you're getting the best possible offer. At this time you have three options:
- accept the offer as presented;
- reject the offer; or
- prepare a counter offer to submit to the potential buyer.
If you reach agreement with the buyers, both parties sign the agreement and it becomes a binding contract. Your Preferred Properties agent will work closely with you to coordinate the details required to complete the closing.
Contact a Preferred Properties agent to learn more: