The Offer Is Accepted, Now What?

If you’re getting closer to accepting an offer on your home, you can see the light at the end of the tunnel getting brighter! Once you receive an offer, you have a very important choice to make. You can choose to accept the offer, reject the offer, or counter the offer. This decision is one that your RE/MAX Agent can help you make while keeping your best interests in mind. They will help you negotiate the offer with the buyer’s agent and once signed by both you and the buyer, the offer will become a binding contract.

What if the Offer had Conditions?

If the offer you accepted had conditions, it would be considered sold conditional. Each of the conditions has an expiration date and the buyer must decide what to do about the conditions. The most common conditions include the following:

  • Financing: most buyers need to obtain a mortgage or loan to purchase the home
  • Inspection: generally at the buyers expense and if they are unsatisfied with the results of the condition, they can choose to walk away from the deal
  • Status Certificate (Condo Purchases): A status certificate shares the current state of the condo unit, financial status of the condo, and other important details about the building. If the buyers are satisfied with the results, they can then choose to accept the offer.

Closing the Sale:

Now that the offer has been accepted and all conditions have been met, the only thing left to deal with are closing costs. Some costs you will have to take into consideration include:

  • Seller agent commissions
  • Buyer agent commissions
  • Legal costs
  • Adjustments for taxes
  • Surveys (if needed)
  • Mortgage and penalty (if applicable)
  • Adjustment for utilities

Still Have Questions?

If so, that’s okay. You’re not alone. RE/MAX Canada hit the streets in a new video series, to find out just how much (or how little) the average person knows about Canadian real estate, and to offer some answers in the process.

.

Connect with a RE/MAX agent for answers to all of your real estate questions.

More to Explore

Taxes

Should You Pay Property Taxes Through Your Mortgage?

March 28, 2024

5 Things To Do To Prep Your Backyard for Spring and Summer

March 27, 2024

Spring Checklist for Homeowners

Spring Checklist for Homeowners

March 26, 2024

RE/MAX Awards header

About the RE/MAX Awards and Recognition Program

March 25, 2024

Real estate

Real Estate Definition: Title Search

March 25, 2024

moving with pets

RE/MAX and Pet Valu Team Up to Make Moving with Pets Easier

March 25, 2024

8 Easy Outdoor Home Improvements to Consider This Spring

March 23, 2024

Assignment Sale

Real Estate Definition: Assignment Sale

March 22, 2024

How to Move With Pets

How to Move With Pets: A Complete Guide

March 22, 2024

Find the
Right Agent

Sign up
For Our Newsletter

Hidden

Next Steps: Sync an Email Add-On

To get the most out of your form, we suggest that you sync this form with an email add-on. To learn more about your email add-on options, visit the following page (https://www.gravityforms.com/the-8-best-email-plugins-for-wordpress-in-2020/). Important: Delete this tip before you publish the form.
Untitled(Required)

*RE/MAX, LLC, 5075 S. Syracuse St., Denver CO, 80237; RE/MAX Western Canada and RE/MAX Ontario-Atlantic, 639 Queen Street West, Toronto, ON M5V 2B7, 905-542-2400