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Contract Negotiations

When an offer is received, the listing REALTORŪ will be notified by telephone, in person or by fax by the Selling REALTORŪ  Contracts may be negotiated in person, over the telephone or via FAX.  Sellers and Buyers SHOULD READ ALL CONTRACTS BEFORE SIGNING THEM!
Your associate will call to set up an appointment to present the contract to you.  If the property is officially recorded with more than one owner indicated, all owners must sign the purchase agreement.  In reviewing contracts, remember, neither good or bad economic times last.  In bad economic times, offers to purchase routinely come in 'low' whereas in good economic times, offers are closer to asking price.  DO NOT BE OFFENDED BY ANY OFFER RECEIVED.  Be offended by Buyers who tour your property and DO NOT submit an offer.  There are four responses that can be made on an offer to purchase:

1.  Acceptance.  Congratulations, you have told the buyer, that you will sell the home to them under the terms and conditions set forth in their offer to purchase.

2.  Rejection.  Rejection is not a good route to take when an offer is submitted, it means that you are rejecting all of the terms and conditions in the offer, back to square one.

3.  Counter Offer.  A much better route to go than rejection.  This occurs when some, but not all terms are acceptable, and you wish to 'offer' the buyer 'your' terms and conditions.

4.  No Action.  If no action is taken on a contract on or before the specified time for expiration, it is basically considered rejected.

IMPORTANT NOTE:  Whenever ANY change is made on a contract, that contract as originally written no longer exists and the contract as amended is now your 'offer to sell' to the buyer.  Once a change is made, no matter how slight, the Buyer has absolutely no obligation or responsibility regarding the original contract.