Many of the offers we present for prospective buyers
aren't exactly what the sellers would like; the price may be lower than they are
asking or there might be other terms that will require negotiation. What happens after
the initial offer is submitted?
The seller's agent will present the offer to the sellers, along with
the buyer's qualifications or details. If the sellers accept the offer, then you have a
purchase agreement. If the sellers counter the offer, the next step would be
initiated by the buyers. If you want to buy a particular house, your chances of
getting it are greater if your offer is as close to the asking price as
possible. You could save money by engaging in hard negotiations, but you run
the risk of losing the home if another buyer's offer comes in or you risk offending the
seller.
