Offer and Acceptance
What happens when you write an offer on a home?
Is a full price offer always accepted? Can you always expect closing assistance?
The seller does not have to accept any offer. It is their decision. They can turn down a full price offer. Closing assistance is another item that does not have to be offered. Market conditions may dictate that the seller offer closing help, but there are many times when the seller does not have enough money in the transaction to offer assistance. Some agents will suggest that the offer be increased by the amount of the closing help needed, but it is important to remember that the lender will only make the loan based on the appraised amount.
There are many questions that crop up once you have submitted and offer on a home. It is important that you understand the subtle changes that occur as the offer moves to ratification. There may be some additional negotiation that occurs.
Can the type of contingencies in your offer affect the acceptance? Absolutely. The seller has the right to refuse any contingency. It is not only the type contingency that the seller objects to, but it also may be the time frame attached to a contingency. It is very important that you use an agent that is skilled in negotiating.
If you’re feeling a little anxious at this point, then that just means you understand that you are in the final stages of owning a new home.
Don’t worry; we’ll make sure you are kept in the loop throughout the entire home buying process.
Call Tudela-MacArthur
301-509-5111
