Receiving and Accepting Offers
When you receive an offer for purchase on your property, you have several options on how to proceed. If the terms are what you are looking for, you can accept the offer as written and move forward. This will put the property under contract. If there are changes to be made, you can make a counteroffer. You can make a counteroffer on any of the terms in the contract, including purchase price, deposit amounts, and contingency lengths. These negotiations can continue until both buyer and seller are satisfied with the terms. If the terms are unable to be agreed upon, the seller has the option of rejecting the offer outright.
Even after an offer has been accepted, backup offers can be received and accepted in the event that the buyer cancels the contract or the deal falls through.
