Offer Management
How does Colorado Premiere Homes
help manage my offers? A buyer interested in
purchasing your property will make an offer and put down a deposit.
The buyer's Realtor communicates the offer, sometimes
known as an Offer to Purchase (a legal document specifying the
offers terms and conditions) to you or your representative. The
offer, which can be firm or conditional, states how much the buyer
is willing to pay and details the conditions.
Firm Offer to Purchase:
Usually preferable to the seller, because it means that the buyer
will purchase the home without any conditions. If the offer is
accepted, the house is sold.
Conditional Offer to Purchase:
Means the buyer has placed one or more conditions on the purchase,
such as subject to home inspection, subject to financing, or subject
to the sale of buyer's existing home. The home is not sold until all
the conditions have been met. The seller can accept the offer,
reject the offer, or make a counter offer.
Acceptance:
The seller agrees to all the terms and conditions exactly as set
forth in the Offer to Purchase.
Rejection:
The seller does not agree with any of the terms and conditions set
forth in the Offer to Purchase.
Counter offer:
The seller agrees with some of the terms and conditions of the
offer, but not all of them. The seller then makes a counter offer
which may change the price, the closing date, or add or delete
conditions. When the buyer receives the counter offer, he or she can
accept the new terms and conditions or reject them.
A signed offer is a binding contract. Make sure you understand and
agree to all of the terms before you sign. You may want to have a
lawyer review the offer first.
Knowledge and Experience You Can Trust When Buying or Selling Your
Home!
- Sharon Armstrong, GRI.
