; ; can be refused if the seller doesn’t accept the amount being offered; and ; ; becomes void if the seller makes any changes, and becomes a counteroffer, which you can accept, refuse, or change In this last instance, which is actually quite common during this process, an offer turns into a counteroffer, which can turn into another counteroffer, and on it goes back and forth until both parties are satisfied, or until the buyer moves on and/or the seller refuses to accept the buyer’s deal. The offer doesn’t actually become a contract until all parties agree to all terms, conditions, and changes in writing. So, now, what all should be included in the drawn-up purchase offer? Here is a list of the most common items: ; ; Physical address of the property ; ; Legal description of the property ; ; Price and terms and conditions of the purchase ; ; Seller’s promise to give clear title to buyer ; ; Target closing date ; ; Earnest deposit associated with the offer, as well as method of deposit ; ; Disposition of earnest deposit if deal falls through or fails ; ; Plans for adjusting taxes, fuel, and water bills between buyer/seller ; ; Who will pay for title insurance, land survey, home inspections, etc.?
197
Powered by FlippingBook