Southwest Florida Title Insurance & Real Estate Blog -
The next step after someone offers to purchase your house Once someone has offered to buy my house, whats the next step?

This is the sixth of 10 Tips for Selling Your Real Estate, a FREE guide to help you list your house “For Sale By Owner.” Available now at WingedFootTitle.com/ebooks.

First of all, CONGRATULATIONS ON GETTING AN OFFER!

You must be very excited (provided it’s a reasonable offer, of course).

When you receive a written offer for the sale of your house from a potential buyer, you will first need to find out whether or not the individual is pre-qualified or pre-approved to buy your home.

If so, then you will need to review the proposed contract with a title company or real estate attorney.

Make sure you understand what is required of both parties to execute the transaction.

The contract, though not limited to this list, should include the following:

  • Offer price
  • Contingencies
  • Down payment
  • Settlement date
  • Deposit amount
  • Financing arrangements
  • Legal description of the property
  • List of fees and who will pay them
  • Inspection rights and possible repair allowances
  • Appliances and furnishings that will stay with the home
  • Method of conveying the title and who will handle the closing

At this point, you have three options:

  1. Accept the contract as is
  2. Accept the contract with changes (a counteroffer)
  3. Reject the contract
For Sale By Owner 10 Tips for Selling Your Real Estate Tab and Binder 300x225 Once someone has offered to buy my house, whats the next step?

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Remember: Once both parties have signed a written offer, the document becomes legally binding.

If you have any questions or concerns, be certain to address them with your title company or real estate attorney right away.

You can find more free tips on how to sell your home without the help of a real estate agent by downloading a copy of our eBook. →

Buying or selling a house in Florida? We can help. Call (239) 985-4142.

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NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

Winged Foot Tite, LLC is not associated with the government, and our [short sale orchestration] service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.