Get it in writing. Accepting a written offer to purchase your home converts that purchase offer into a functioning agreement, so remember that you are accepting all of the written terms as they are laid out. In a real estate transaction, the purchase offer and the defining rules of that offer come at the same time, so there is no “do over” period if you would like to then raise the price or change your mind. Click here to learn the details.
Let’s look at some specific questions sent in by DearMonty readers from across the country. Read more Q&A articles about the “Planning with Experts” stage of the Home Selling process:
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Is a Verbal Offer binding?
Reader Question: I am going through a Realtor, and I verbally agreed to a price from a guy who low-balled by over half the asking price. The buyer is still knit-picking everything and taking forever, so we have signed no papers….
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Can an agent add extra commission in an offer?
Reader Question: A home buyer offered us an amount that we liked. But there was an addendum by the buyer’s agent for extra commission. We did not accept that and counter-offered. However, our agent told us the deal would…
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Trust Our Real Estate Agent?
Reader Question: We wanted to trust our real estate agent. We accepted a purchase offer which allowed us to stay for 21 days after closing with no cost and an additional 45 days at a nominal daily rate. We were out…
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We have an offer for a million dollars over appraisal
Reader Question: We have an offer for a million dollars over appraisal for our building and parking lot from a developer. They offered 2.2 million dollars with a one-year requirement for us to vacate. We have a separate independent appraisal valuing…
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One of real estate’s biggest myths
Reader Question: The relo counselor is telling me I will lose the relocation benefits if I list my home for more than ten percent above the average of two appraisals. This seems like one of real estate’s biggest myths. Their…
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Home seller wants to cancel the home sale
Reader Question: We signed an agreement to sell our home with a buyer two weeks ago. As the realities of the change set in, we have decided we don’t want to move. We have not yet told our agent. How…
