Submitting an offer on a property is exciting—but it’s just the beginning. Understanding what can happen next will help you stay informed and respond strategically.Seller Options
Once your offer is received, the seller has three main choices:
Accept – The offer is accepted as written. We will receive confirmation and proceed to the next steps, including deposit, inspections, and closing preparations.
Counter – The seller may propose changes, marked on the contract and initialed. You can then accept, reject, or counter again. This cycle may repeat until an agreement is reached or negotiations stall.
Reject – Sometimes the seller simply lets the offer expire or chooses another offer. We may not hear immediately if your offer is rejected, especially if the seller is considering multiple options.
Negotiation Tempo
Negotiation timing varies based on seller availability, communication methods, and offer terms.
Low offers may require more consideration and lead to extended negotiations.
Your REALTOR® works to keep negotiations moving efficiently while protecting your interests.
Multiple Offers
It’s common for other offers to arrive while your offer is being considered.
Sellers can compare all offers and choose the best one.
Be prepared for quick decisions—fast responses can be crucial in a competitive market.
Verbal Negotiations
In BC, real estate contracts are only enforceable in writing.
Any discussions about price, included items, or repairs should be documented and signed promptly.
Verbal agreements alone are not legally binding.
Information Flow
New information can arise during negotiations, affecting your decisions.
Staying informed and responding appropriately is key to protecting your interests.
Bottom Line
Negotiating an offer can be fast or slow, simple or complex. Knowing the seller’s options, potential timing, and how other offers may impact negotiations helps you stay prepared and make confident decisions.
