Numerous Louisiana residents are in the process of selling their homes. When an offer finally comes in, it can be an exciting thing — or not, depending on the offer terms. How a seller responds to a potential buyer can make or break the deal. What are the different ways a seller can respond to a home purchase offer?
Accept, counter or reject
When a formal offer is received, a seller can it. Sellers can accept it as is, meaning they agree to all the terms laid out by the buyer, or if there is something they don’t like, they can put in a counteroffer with the adjustments they would like made. If the agreement is accepted as is, the sale moves forward. If a seller counters, it is then up to the buyer to accept, counter or reject the new terms. If a seller does not like the terms or thinks the offer does not warrant a counter, then it can be rejected in writing.
A response is not always necessary
Believe it or not, it is unnecessary to respond if one believes the offer is not worth entertaining. When a home purchase offer is submitted, sellers are usually given a specific period of time to respond. If a seller fails to respond by the deadline, the offer expires, and that is the end of it.