Evaluate the Offer to Purchase
- Home
- >
- Property 101
- >
- Sellers Guide
- >
- Evaluate the Offer to Purchase
Evaluate the Offer to Purchase
Once you have successfully found a Buyer who is interested in purchasing your home you will receive an Offer to Purchase.
If the offer is less than the asking price, examine the contract to determine the basis for the Buyer submitting the specific offer.
This is a stage at which every first-time Seller should proceed with caution as the offer may differ from the asking price.
A Buyer makes an offer by submitting a written and signed Offer to Purchase. This offer will show you the price that a potential Buyer is willing to pay for your home and the specific terms of a sale.
Your Estate Agent will go through the contract with you and help you review the contract in order to decide whether to accept it as there is no obligation to do so.
A good offer should be close to the price at which you and your Estate Agent listed the house, and this often means the house was priced correctly.
If the offer is less than the asking price, examine the contract to determine the basis for the Buyer submitting the specific offer.
Once you have received an offer and your Estate Agent has gone through all the terms and conditions, you can do one of the following:
- Accept and sign the offer
- Reject the offer
Take your time to go through the offer; the best situation is one involving an offer that is mutually beneficial for both the Buyer and the Seller.
Print
Get the latest property news
