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.
Every term like this one lights up in the step you're on.
Free to set up. No credit card.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
One piece of your sale. Here is where all the pieces live.
In your room, this word explains itself where it appears.
Keighbor keeps your whole home sale in one place and defines every term like this one right where you meet it, in the step you're on. Free to set up, with or without an agent.