Sunday, February 13, 2011 - By Relocation.com Staff
Now that you have an offer you can make a decision on whether to accept, refuse or make a counteroffer. Making counteroffers is very common in real estate transactions. If you get an offer and the price is right for you but the closing date is too far out or too near, you can counteroffer with a closing date that suits you. If the offer amount is low, you can counteroffer with an amount nearer the list price. Once the buyer or you as the seller agree on terms and accept the counteroffer, you have sold your home. Congratulations!
The next step for you is to complete and sign the purchase and sales agreement. The buyer will also complete and send it to attorney for review, which normally takes approximately three days. Do remember that during attorney review the buyer and seller can pull out of the deal with no penalty. Once the deal is signed, it is much more difficult for either party to pull out without being penalized.
