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 |
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Notice | 부동산 용어사전 | 2019.04.15 | 2075 |
Notice | 부동산 용어 (A to Z) | 2019.03.03 | 1321 |
201 | Real Estate Law 8 | 2019.05.05 | 112 |
200 | Real Estate Law 9 | 2019.05.05 | 100 |
199 | Real Estate Law 10 | 2019.05.05 | 84 |
198 | Real Estate Law 11 | 2019.05.05 | 111 |
197 | Real Estate Law 12 | 2019.05.05 | 104 |
196 | Real Estate Law 13 | 2019.05.05 | 94 |
195 | Real Estate Law 14 | 2019.05.05 | 237 |
194 | Chapter 3 Summary | 2019.05.05 | 153 |
193 | Quiz 3 | 2019.05.05 | 7918 |
192 | Real Estate Law 15 | 2019.05.06 | 113 |
191 | Real Estate Law 16 | 2019.05.06 | 106 |
190 | Real Estate Law 17 | 2019.05.06 | 96 |
189 | Real Estate Law 18 | 2019.05.06 | 98 |
188 | Real Estate Law 19 | 2019.05.06 | 99 |
187 | Real Estate Law 20 | 2019.05.06 | 99 |
186 | Real Estate Law 21 | 2019.05.06 | 87 |
185 | Quiz 4 | 2019.05.06 | 6185 |
184 | Real Estate Law 22 | 2019.05.07 | 85 |
183 | Real Estate Law 23 | 2019.05.07 | 94 |
182 | Real Estate Law 24 | 2019.05.07 | 96 |
181 | Real Estate Law 25 | 2019.05.07 | 79 |
180 | Real Estate Law 26 | 2019.05.07 | 86 |
179 | Real Estate Law 27 | 2019.05.07 | 78 |
178 | Real Estate Law 28 | 2019.05.07 | 84 |
177 | Real Estate Law 29 | 2019.05.07 | 170 |
176 | Quiz 5 | 2019.05.07 | 9033 |
175 | Real Estate Law 30 | 2019.05.07 | 97 |
174 | Performance and Forbearance / Default and Breach | 2019.05.08 | 141 |
173 | Real Estate Law 31 | 2019.05.08 | 301 |
172 | Real Estate Law 32 | 2019.05.08 | 130 |