Making an Offer

When you make an "offer" or "bid", the seller of the home can accept or reject it, make a counter-offer or not respond.

If the seller rejects your offer, makes a counteroffer or doesn't respond, your options remain open. You can accept the counteroffer, make another offer or reject it and keep looking.

It's important that you think through your decision before you make an offer. You won't be able to think it over more you have come to a meeting of the minds.

Once both parties have signed the offer the contract is sent to both attorneys for review.  The attorney review period is approximately 3 days or, until both attorneys are satisfied with the wording of the contract.  During the attorney review period either party can cancel the contract for no particular reason.  Once the attorney review period of over the contract is binding.  At this time you will be given a time frame in which inspections must be done and deposit money delivered to your attorney.  The contract will also contain a mortgage commitment date which is when you must have confirmation from your lender that you are indeed qualified for the mortgage you applied for and the lender is committed to lending you that money.