The moment we receive an offer, I will contact you to let you know about the offer and set up a time to go over the details of the offer. This communication may be in person, over the phone or by email.
The ideal situation for us is to have more than one offer on your property at the same time. When this happens, we have some options. We will evaluate the pros and cons of each offer. If one is acceptable, you may choose to sign that offer. Another option may be to present all the Buyers with a deadline to submit their “highest and best” offer by. For example, by 5pm on Friday. Once, all the offers have been received, we will again evaluate each one. With multiple offers, there is usually less need for negotiation as one or more of the offers will be suitable to the Sellers. However, it is still possible to negotiate if one is not suitable.
Once you have signed an offer, the property is “under contract with contingencies.” In most cases, an offer on your home will be conditional on financing & home inspection for a certain period of time (typically 10 business days following acceptance for a home inspection). During this period, your property is sold conditionally. It may still be shown to other Buyers to entertain back up offers. Once the Buyer agrees to remove these conditions, the house will be sold “Firm” and that is when the “Sale Pending” sign will be placed on the front lawn.