An offer is the amount a buyer is willing to pay for the property, regardless of the listing price. Buyers typically offer 5 to 10% below asking price. This can be done in the following steps:
- A written offer is made.
- The seller can accept or make a counteroffer.
- The buyer can accept or continue to negotiate.
- When both parties agree on the price, the offer is considered accepted.
Read more: What is a Fair Offer Price When Selling a Home?