How are offers handled?
When a listing agent receives an offer, the agent will present the offer in its entirety to the seller/property owner. At this point in time, the seller has three options: • Accept the offer as written. • Reject the offer if it is totally unacceptable. • Counteroffer, changing any unacceptable conditions. (When the counteroffer goes back to the buyer, the buyer has the option of withdrawing, accepting, or countering the counteroffer.) When both buyer and seller agree to all terms (including changes made in any counteroffer), and indicate agreement by their signatures, the contract becomes”firm. “With signatures and notification to all parties, a sales contract now exists.
