Once you negotiate a deal with a seller, you’ll need to put things in writing. A well put together real estate agreement will save you a lot of problems, arguments and stress. It’s important to have a trained attorney review your deals.
When you’re ready to purchase a property, you’ll need to present an offer. When an offer is made and accepted, a contract is formed. In many states, real estate agents and attorneys use a standard offer form. This offer contains all the details of the contract and contains the buyer’s signature.
In order for a contract to exist, there must be a mutual agreement. Once the seller accepts the contract, it becomes binding. If the offer comes back to the offeror (buyer) with a change in terms, the original contract is nonbinding but rather a counteroffer. If the seller makes any changes to the original agreement, the original agreement becomes null and void. In addition, if the offer is not accepted within a certain period of time and manner prescribed by the offeror, then there is no contract.
If you’re ready to make an offer on prime Orange County real estate, try viewing these Anaheim Hills homes for sale.