Making An Offer To Purchase

After you have found the home you want to buy, you need to give the Seller an Offer to Purchase. Once it has been written and gone over by you and your Realtor, you will sign the document, and the Realtor will submit it to the listing agent on your behalf.

The Acceptance Process

What Happens After You Make An Offer To Purchase?

Once your Realtor submits the offer, there are five possible outcomes.

• Response 1

The seller accepts your offer. The deal is concluded, and you move on to the next steps in the buying process.

• Response 2

The seller makes a counter-offer. The counter-offer might ask for a higher price, or different terms, etc. You can accept the terms of the counter-offer, and you move on to the next steps in the buying process.

• Response 3

The seller makes a counter-offer. The counter-offer might ask for a higher price, or different terms, etc. You are OK with some of the terms but don’t like others. You counter-offer back the counter-offer and either they accept it, and you move on to the next steps in the buying process, or they reject it outright with no further counter-offer, and you move on to the next property.

• Response 4

The seller makes a counter-offer, asking for a higher price, or different terms, etc. You reject the counter-offer, and you move on to the next property.

• Response 5

The seller rejects your offer and does not want to submit a counter-offer. You move on to the next property.

Competing Offers

In certain market conditions, consumers may find that more than one buyer is interested in a property. This is a competing offer situation and creates unique conditions in a real estate transaction. Both sellers and buyers need to consider how to respond when presented with a competing offer situation. Working closely with your Realtor to ensure that you understand the process.