What's difference between getting a deal under contract and.....
What's difference between getting a deal under contract and and writing an offer?
Are those 2 separated agreements?
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I call you and say, "I will pay you $100,000 if you will sell me your house." You say, "No, I want $150,000". I say, "No, that's more than I can do. How about $110,000?" You say, "No, the best I can do is $135,000." I say, "That doesn't work for me. Is that the best you can do?" You say, "Yes, I can't take one dollar below $135,000 because that's how much I owe the bank." I say, "Thank you for your time, here's my number and I'll follow up in a few weeks." You say, "Okay, bye."
We simply had an offer, a few counter-offers, but no contract.
I follow up 2 - 3 weeks later and present my same $110,000 offer. You says, "Okay, I'll take it. My job just transferred me to Saskatchewan and I have to be there in 2 days. No time to mess with this house, plus they gave me up to a $25,000 moving stipend to cover any shortfall with the bank." You and I meet and you sign the paper.
We now have a contract.