Once your property is officially on the market it will eventually receive interest in the way of an offer. An interested party or buyer will make an offer to purchase your home at a certain price with specific terms.
The actual purchase agreement is the legal document and commitment on the part of the buyer to enter into a contract of sale. Acceptance of the offer does not create a contract until a copy of the accepted offer is transmitted back to the buyer or his agent.
Depending on the market conditions at the time you sell your home, you may receive multiple offers. Getting the best price and terms for the sale of your property will depend on how you respond to a multiple offer situation. Having someone like Tami Pardee at your side can be invaluable. She can help you evaluate each offer for its relative strength beyond just the price but to include financing terms, contingency periods, and inspections etc.
Once you agree on an offer you can sign it and move on with the transaction. Signing the offer ratifies the contract and makes it legal. If you'd like to negotiate the price or any of the terms of a particular offer you received you can create a counter offer specifying what you’d like changed. Counter offers are part of the negotiation process to come to a final agreement.
Legally you can only counter to one offer at a time so you want to make sure it's the best one for you. We can go through each offer in detail together.