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Making the Offer
The agent will assist the buyer in preparing a written offer on a deposit receipt form. All the details of the offer are entered on the form, including the description of the property, the price offered, the amount of the deposit paid (usually 3% of the purchase price), financing terms, duration of the offer, rights of the buyer to inspect the property, which party will pay which fees, etc.
Counter-Offer
The buyer may offer less than the asking price. In addition, there may be other terms of the offer which are not acceptable to the seller. The seller will usually make a written "counter-offer," which says in effect, "I agree with your offer except as follows: ...(enumerate the changes the seller requests)." The buyer can respond with a written "counter-counter-offer," and the offers can go back and forth (like a ping-pong game) until finally there is agreement, or until one of the parties will no longer respond
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