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What to Expect After Submitting an Offer

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The most exciting, and some would say nerve-wracking period of buying a home is the time immediately following the submission of your offer. This is the period in which having a buyer's agent can be so very valuable.

Once you determine the amount of your offer, you and your agent should determine how much time you would like to give the seller to consider whether to accept it or not. Usually, two or three days is sufficient.
After you submit your offer, you can expect one of four things to happen.
  1. Your offer is accepted as submitted. This is your best outcome, as the buyer has agreed to sell you the home for the price you offered.

  2. Your offer is rejected. In some cases, especially if the seller views your offer as far too low, they will simply reject the offer. I will discuss offer rejections in my next blog post.

  3. Your offer is countered. The buyer is technically rejecting your offer, but at the same time is countering it with a proposal of their own. This counter offer is often somewhere between your offer and their asking price. You will now be on the clock and have a specified period of time to accept or reject their counter, or you may decide to modify your initial offer closer to their counter proposal.

  4. Your offer expires. In some instances, your offer may simply expire. You agent should investigate as to why you didn't get a timely response to your offer.

If your offer is accepted, there is reason to celebrate but there is still work to be done. A property doesn't officially transfer ownership until the closing.

Do you have questions about buying a home in the Orlando, FL area? I can help. Email me today and let's discuss your real estate goals.

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Location: 1420 Celebration Blvd #200, Celebration, FL 34747, USA

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