Anyone who has purchased or sold a house knows that it is not a simple process. There is much haggling and negotiations. The normal procedure is that the seller states the amount he wants his property to be sold and if there are any interested buyers, they will present an “offer to purchase form”. However, it is not usual for buyers to buy the home at the requested purchase price. They normally ask that the amount be reduced.
When buyers or their respective agents approach the seller with a proposal, it’s not done verbally. They do it formally, and they present all their proposals in a professional manner, through what is commonly called a counter offer form.
A counter offer form should contain the location of the property being purchased, previous and proposed selling price and terms and conditions, deadline for accepting the proposal, suggested terms of payment, among others.
Should the counter offer be acceptable to the seller, the revisions will, either be incorporated into the offer to purchase form, or the approved and signed counter offer will be added as a supporting document to the final purchase contracts.
Be sure that all your proposed amendments are indicated clearly and that you understand everything that is written there. This is your proposal to the seller. If the counter offer is accepted by the seller, it may be difficult to have this revised further.
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