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Step 9:  Submit an Offer

The general chain of events surrounding an offer are as follows:

  1. The buyer fills out a purchase contract which includes a legal property description, offered price, items included, financing expected, and timeframe for seller response

  2. If the seller is represented by an agent, the buyer delivers the offer to the agent who will then present it to the seller, otherwise, the buyer delivers the offer directly to the seller or a seller representative, such as an attorney

  3. The seller reviews the offer, or multiple offers, and chooses one to accept or counteroffer. The other offers received are held or rejected

  4. If the seller accepts your offer, s/he ratifies it by signature

  5. If the seller counteroffers you, you receive the offer back from the seller or the seller's agent. You have a timeframe to respond with acceptance, rejection, or another counteroffer. If it is a FSBO situation, the seller may ask to meet with you and conduct a negotiation in person.

  6. If you accept, you ratify by signature. Otherwise, you can counteroffer and continue to negotiate with the seller or through the seller's agent until you both come to terms. You can also end the process by rejecting the latest counteroffer.

The document below discusses how to complete a purchase contract and includes some negotiating tips for creating a successful offer.

Submit Offer
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