Charles McShan - untitled

• must conform to local regulations and standards; • must mention the amount being offered as well as the actual asking price; • must include any terms and conditions on the purchase; • must be drafted and signed; • must be forwarded to the seller through an agent (your buyer’s agent or the seller’s agent); • is not a binding sales contract; • is the buyer’s offer on the house based on its current condition and according to the terms and conditions; • is subject to change if the seller doesn’t agree with your terms; • can be refused if the seller doesn’t accept the amount being offered; • 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 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;