Offer
A written proposal from a buyer to buy a home at a specific price and on specific terms. Until the seller accepts, it's not a contract. Offers usually include an earnest money amount and any contingencies.
Your Room opens on showings and offers, with everything before the listing already ticked.
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See how it worksWhere this comes up: on the market
Part 1 of 4
Why a seller cares
An offer is the buyer's whole proposal, not just a price: deposit, contingencies, closing date, what stays with the house, who pays what. Reading all of it is how two offers at the same price turn out to be different.
Part 2 of 4
A simple example
Two offers on a $300,000 listing arrive the same evening. Same price, and almost nothing else in common.
| The term | The two offers |
|---|---|
| Price | $300,000 for both offers |
| Deposit | A: $9,000. B: $2,000 |
| Contingencies | A: inspection only. B: inspection, appraisal, financing, home sale |
| Closing | A: 30 days. B: 60 days, after their home sells |
Price is one line of an offer. The rest of the page decides how likely that price is to arrive.
Part 3 of 4
What people get wrong
That an offer is binding once it is sent. It is a proposal until you accept it, and the buyer can withdraw it any time before you do.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
In your Room, this word explains itself where it appears.
Your Room defines offer in the step you meet it in, beside the document or the date it belongs to. Free to set up, with an agent or on your own.
Organize my saleFree to set up. Pay once when you list: $89 or $189. 7-day refund.