The buyer must sign this contract before it can be sent to the seller’s agent (or the seller directly if the house is being sold ‘by owner’). The seller can accept it, decline it, or attempt to counter it by presenting a different set of terms. There’s usually some negotiation that occurs over the course of about 24 hours before it’s settled and you have a ‘bound contract’ (an offer that’s been accepted and signed by all parties).

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