Negotiating Offers

By now you have survived the showings and have received an offer. Luckily you have an experienced listing REALTOR® to guide you through the paperwork that is generated between now and the closing.

  • 1.

    Offer Accepted

    First things first, you and your agent will decide whether to accept the offer or whether to counter offer. Your agent will go over the sales contract with you and prepare the counter offer.

  • 2.

    Final Contract

    Once the final contract has been accepted and executed by all parties, the buyer will choose a title company or attorney to handle the closing. If there is a mortgage contingency, that will usually be satisfied in 45 to 60 days. Continue to maintain your property for showings, in case the buyer's financing falls through.

    During the mortgage contingency period the mortgage company will order an appraisal to make sure the property is adequate security for the loan amount.

  • 3.

    Loan Approval

    Finally when the loan is approved, the mortgage company will prepare a loan commitment document. After the loan approval is received, the listing and buyer's agent will coordinate the closing date.