Getting the Tahoe Purchase Offer | Buyer
Q: What is a Purchase Offer?
A: A purchase offer is usually made in the form of a written contract prepared by a sales associate representing a buyer. In the North Lake Tahoe – greater Truckee area, the California Association of REALTORS® (CAR) Residential Purchase Agreement (RPA) is the document most used for Tahoe real estate sales in the area. All offers for your property will most likely be on the CAR-RPA contract form and will generally be delivered to me, and I will then present them to you.
Q: How quickly must I act?
A: Usually time is of the essence in negotiating an offer. There are often strict deadlines, which must be met. Your time to respond may be as little as a few hours, or it could be the standard contract deadline of 3 days after the date of the buyer signing the offer documents, or it could be a much longer period of time. The time to respond is determined by the buyer making the offer.
I will review your purchase offer and make sure you are aware of the actual deadline to respond. I will be in constant communication with you during the entire transaction process, which includes the offer/negotiation process.
Q: Who knows about the terms of an offer for my property?
A: The CAR-RPA offer does not contain a confidentiality provision. A buyer may present an additional agreement to keep negotiations confidential and private, and as the seller you have the option to agree, or not to agree. In general no one, except you, my escrow team, the buyer and the buyers’ agent team will know about the terms of an offer prior to your acceptance, unless you provide me with instructions to contact other buyers’ agents and share the details of the offer with them.
You will be kept informed of any other buyer’s interest in your property; and if more than one offer is submitted to me, all offers will be presented to you for your consideration. In fact, any offer received, even after you’ve accepted an offer will be presented to you, up to and until you close escrow, unless as the seller you present me with written instructions that tell me you no longer want to see offers on your property.