What happens once you’ve submitted an offer to buy a home? [Video] with Alex Wickham

Hey, it’s me Alex Wickham, are you looking for a Wicked home?

What many people don’t realize is that the buying process can go very fast! Once you decide to make and offer, you could have an accepted conditional offer a few hours later. Then conditions done in a week.

But how does the offer process typically go?

There are two possibilities when making an offer. One is that you are the sole person making an offer, and the second is that multiple people are making an offer on the same property.

When you are the sole offerer, you would typically negotiate back and forth until you find price and terms suitable to both you and the seller.

When competing in a multiple offer situation on the other hand, there are typically no negotiations. In this case you have one chance to make your best offer, and the buyer with the best offer wins. At this point your offer will be either accepted or rejected.

In either situation I would provide recommendations on offer strategies.

Once you have a conditionally accepted offer, in most cases you will have some time to fulfill your conditions, which often include home inspection, financing, and in the case of condos, Status certificate review.

Once you’ve satisfied your conditions we would then send a document to the seller’s saying that the conditions have been fulfilled. At this point the sale would be firm and you can celebrate. *pop open a bottle of champaign*

Congratulations! Obviously there is more to it than that. But at least now you have a good idea of how this might go.

For more information, or if you’re looking for a Wicked home, call Wickham.

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