It can be a great feeling when you’ve finally found that dream home and made an offer that got accepted. You may have been searching for a while (and maybe even missed out on a few houses), so the sense of joy and relief is palpable when you finally get that offer accepted. But what happens after an offer is accepted on a house? Here, we will take you through that process to make sure getting an offer...
Key takeaways What does the highest and best offer in real estate mean? It’s a request from a seller with multiple offers, asking buyers to submit their most attractive bid, considering both price and terms, by a specific deadline. Highest and best vs. best and final offer? A “highest and best” offer allows for potential negotiation, while a “best and final” offer is a one-shot deal with no...
In real estate, sellers often assume that once they accept an offer, the deal is done. However, life happens, circumstances change, and sellers sometimes ask, “Can I back out of selling my house before closing?” While the short answer is maybe, the longer answer is far more nuanced. Backing out of a home sale after signing a contract can lead to legal, financial, and reputational consequences. So...
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