Your home has been for sale, inspected and the latest enthusiastic prospect presents you with an “offer” to buy. Review this offer with care. It’s an extremely important part of the sale.
Are all names correct? Is the property correctly described? Is the mortgage information accurate? Can you move by the possession date? Is the purchase price satisfactory? Then double check your calculations to be sure you know how much cash you will receive. If you have any doubts about points contained in the offer do not sign it until they have been completely clarified to your satisfaction.
The offer to purchase is binding on the purchaser for the amount of money and time stated in the offer. You can accept it as-is, let it expire, or consider changes. If you change anything in the offer you are reversing the process and making a new “offer to sell” to the purchaser who then has the same options. Before you sign, be certain that it clearly states all the points of agreement.