Step 2: The Offer
TLDR: You’ll move to this step after you’ve received an offer, and you’ll transition to Step 3 after you’ve signed the offer.
If you've received an offer, congratulations! You are a marketing whiz! You've successfully advertised and showed your house in Step 1 (Hooray!). In this step, you'll have the option to accept, negotiate, or decline offers until you reach an agreement with a buyer. After agreeing on terms with the buyer, you'll be able to ratify the contract via an electronic signature before moving on to Step 3. In this step, you'll also be able to learn more about the terms typically included in a contract.
What should I know about Step 2?
Step 1 was about preparing and pricing your house so you’re ready to show and start receiving offers on your property. Now that you’ve received an offer you can move on to Step 2, which is all about receiving, negotiating, and coming to an agreement on an offer. There are seemingly endless documents to sign, some of which you might understand, and traditionally, you have no say in the content of the contracts. At Aloha My Home, we aim to shed light on everything that goes into an offer and why the various clauses need to be there. Most of the terms and conditions are to prevent any miscommunication between you and the buyer and prepare in the event of certain scenarios.
An example of one such scenario is what transpires if the buyer’s financing falls through–do you get the earnest money deposit or does it go back to the buyer? What is earnest money, anyway? In this step, we'll dive into the components of an offer, including the general terms and conditions, the earnest money deposit, timelines, contingencies, disclosures, and negotiating the offer.
