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49 - The Offer To Purchase Explained - Part 1
Manage episode 451194803 series 3399080
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Whether you are a buyer or seller, the Offer To Purchase is potentially the most important document in a real estate sale.
The Offer, as it is commonly known as, dictates the entire sale. The buyer drafts an Offer To Purchase, usually through an agent, and it is presented to the seller by the listing agent. The seller can then decide to accept it, reject it, or counter it. That's where the real fun begins.
Once accepted through, this contract of sale is pretty much as solid as concrete. This contract then becomes binding on each party and then each party starts working through contingencies. Those contingencies can be inspections & testing, financing, appraisal, document delivery and review, and ultimately closing.
John and Monica Young work through the Offer in a two part series that will certainly give both buyers and sellers an education.
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