Prior to officially purchasing a home, a contract is required stating that both buyer and seller are in agreement of the terms written therein. Though a lot of communication is verbal between these two parties, a verbal contract will not suffice in order to proceed with a real estate transaction. 

In most cases, the buyer initiates this contract by creating a written offer on the property to the seller. From there the seller may choose to accept the offer, reject the offer, or even propose a counter-offer. 

If the seller proposes a counter-offer, then the buyer is given the same three choices: Accept the counter-offer, reject it, or again create another counter-offer. So, this exchange continues until one party gives an absolute or final response. 

However, if the offer is accepted and agreed to by both parties, this too must be in writing. 

Does the buyer want other items to be included with the purchase of the home (such as a washer, furniture, landscaping material)? Are there are any circumstances or restrictions that would personally keep the buyer from the closing table? 

It is extremely important to not only know these items and requirements, but to document them. Because if there is a disagreement between buyer and seller, the contract serves as a reliable source for both parties. 

From this point it is also important for buyer and seller to maintain communication regarding proper choice and title insurance documentation. Whether the buyer or seller makes this decision on a title company is dependent on the property’s location.

At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.

Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: Understanding Your Loan Estimate: Loan Costs

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