Q:
What does "under offer" mean when buying a house?
A:
Quick Answer
When buying a house, "under offer" means that a tentative agreement has been reached between the buyer and seller, but no official documents have been signed. At this stage of the buying process, either side can pull out of the deal without legal repercussions.
Continue Reading
Credit:
Jamal Fanaian
CC-BY 2.0
Full Answer
If a house remains "under offer" for a significant length of time, new offers can be made by other potential buyers. For the buyer who verbally agrees to buy the house from the seller, time of is of utmost importance. To finalize a deal, the buyer must either release the funds or secure a mortgage. A valuation must be performed to determine the details of the loan, and it is also advised that the buyer order an extensive survey of the property's condition.
Learn more about Real EstateSources:
Related Questions
-
Q:
How can you find out when your house was built?
A: The easiest way to find out when a home was built is to find the deed or title to the house, which typically notes the year of construction. If this inform... Full Answer >Filed Under: -
Q:
What do you need to buy a house?
A: A buyer can purchase a house directly from the seller with nothing more than the agreed-upon purchase price. However, good credit, a down payment, stable e... Full Answer >Filed Under: -
Q:
How soon can I sell my house after bankruptcy?
A: A home can be sold as soon as the case is considered discharged and closed, according to Jayne Thompson for SFGate. This depends, however, on whether the t... Full Answer >Filed Under: -
Q:
What forms do you need when selling a house?
A: Forms required for selling a home include a property disclosure form, sales contract, sales contract contingency clauses, purchasers access to premises agr... Full Answer >Filed Under:
You May Also Like
-
Q:
How do you renew an Oklahoma real estate license?
-
Q:
How can you improve the safety of aluminum wiring in a house?
-
Q:
What kinds of things are commercial tenant lists used for?
-
Q:
How do you find out if a potential tenant has been evicted before?
-
Q:
What are some features of an Earthship home?
-
Q:
How do I change a property deed?
