Accepting an Offer
A contract is a legal arrangement between a Buyer and a Seller. Laws vary from state to state, but in order to be a legally binding agreement, the agreement may require consideration. This consideration is sometimes the Buyer’s Earnest Money which is to be held in the Title Company’s escrow account pending the fulfillment of conditions or contingencies in the contract.
Some important tips to keep in mind to streamline the process even further:
- Keep written records of everything.
Your Agent will assist you in drafting all the paperwork for the sale of your home and make sure that you have copies of everything. More than likely you will have electronic copies of everything and all paperwork will be signed electronically.
- Stick to the schedule.
Now that you have chosen your offer, you and the buyer will be given a timeline to mark every stage in the process of closing the real estate contract. Meeting the requirements on time ensures a smoother flow of negotiations and also ensures that each party involved is not in breach of their agreements. During the process we will keep you constantly updated so you will always be prepared for the next step.