Chapter 11: From Offer to Closing Summary
Preparing the Presentation
Avoid telling the price of the offer and giving a presentation over the phone.
Usually the listing agent presents the offer to the sellers. Exceptions:
Additional documentation to support the offer:
Handling Multiple Offers
Meeting with the sellers
Making Recommendations
Once you present an offer, the seller can accept the offer exactly as it is written, reject the offer totally or reject the offer and submit a counteroffer to the buyer for his or her consideration.
Your goal should be to seek the sellers' acceptance rather than a counteroffer.
If you believe for whatever reason that the offer is not in the sellers' best interests, you should not recommend its acceptance. The sellers' best interests take precedence over your commission.
That a counteroffer is a rejection of the original offer and submitting a counteroffer gives the buyers a way out.
Obtaining Acceptance
Most sellers object to offers based on the offering price. Things to look at in the offer include earnest money amount, type of financing, contingencies and closing/possession date.
Writing Counteroffers - Some common items considered for counteroffer include:
Important tips to follow when drafting a counteroffer:
Delivering the Counteroffer
Accepting the Offer
The acceptance and formation of a legal contract does not take place until the party who made the offer is notified. Notification is the delivery of a signed copy of the acceptance to the offeror.
Looking Towards Closing
Since the broker doesn't receive the commission until escrow closes, it's important to work diligently to ensure that the closing actually happens.
No. | Subject | Date | Views |
---|---|---|---|
Notice | 부동산 용어사전 | 2019.04.15 | 2084 |
Notice | 부동산 용어 (A to Z) | 2019.03.03 | 1336 |
141 | Real Estate Law 60 | 2019.05.11 | 83 |
140 | Real Estate Law 61 | 2019.05.11 | 116 |
139 | Quiz 9 | 2019.05.11 | 7147 |
138 | Real Estate Law 62 | 2019.05.12 | 159 |
137 | Real Estate Law 63 | 2019.05.12 | 95 |
136 | Real Estate Law 64 | 2019.05.12 | 147 |
135 | Real Estate Law 65 | 2019.05.12 | 92 |
134 | Real Estate Law 66 | 2019.05.12 | 89 |
133 | Real Estate Law 67 | 2019.05.12 | 103 |
132 | Real Estate Law 68 | 2019.05.12 | 115 |
131 | Review Chapter 10 | 2019.05.12 | 141 |
130 | Quiz 10 | 2019.05.12 | 8839 |
129 | Real Estate Law 69 | 2019.05.13 | 144 |
128 | Real Estate Law 70 | 2019.05.13 | 103 |
127 | Real Estate Law 71 | 2019.05.13 | 88 |
126 | Real Estate Law 72 | 2019.05.13 | 83 |
125 | Real Estate Law 73 | 2019.05.13 | 77 |
124 | Real Estate Law 74 | 2019.05.13 | 100 |
123 | Real Estate Law 75 | 2019.05.13 | 115 |
122 | Real Estate Law 76 | 2019.05.13 | 92 |
121 | Real Estate Law 77 | 2019.05.13 | 98 |
120 | Review Chapter 11 | 2019.05.13 | 894 |
119 | Quiz 11 | 2019.05.13 | 7468 |
118 | Real Estate Law 78 | 2019.05.14 | 111 |
117 | Real Estate Law 79 | 2019.05.14 | 109 |
116 | Real Estate Law 80 | 2019.05.15 | 93 |
115 | Real Estate Law 81 | 2019.05.15 | 90 |
114 | Real Estate Law 82 | 2019.05.15 | 89 |
113 | Real Estate Law 83 | 2019.05.15 | 103 |
112 | Real Estate Law 84 | 2019.05.15 | 110 |