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The Home Should Be Inspected. The inspection typically occurs 7 \u2013 10 days after the offer is accepted, and allows the home buyer and inspector a chance to privately view the home. As the seller is not present for the inspection, you'll have a few tasks that must be completed in preparation for the home inspection.
Offer and acceptance occur when the seller accepts a buyer's offer on the home, usually by signing a Purchase and Sale Agreement already signed by the buyer.
Drawbacks of the Escalation Clause \u201cOne of the main drawbacks to an escalation is that you give away your maximum number,\u201d explains Musau. \u201cIt's essentially showing all your cards, and can drive the price of the home outside of your top number if there's another offer with a higher escalation.\u201d
An escalation clause is only triggered if there are competing offers, so you should not include an escalation clause in your purchase offer unless you and your real estate agent are confident that there will be multiple offers. The seller is not accepting escalation clauses.
The Home Should Be Inspected. The inspection typically occurs 7 \u2013 10 days after the offer is accepted, and allows the home buyer and inspector a chance to privately view the home. As the seller is not present for the inspection, you'll have a few tasks that must be completed in preparation for the home inspection.
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The definition of acceptance implies the existence of an offer that we can accept or not. In real estate acceptance is applied in real estate transactions in the buying or selling of property when one individual makes an offer to purchase a house and the other decides to accept that offer or not.
An escalation provision in an offer may not be enforceable until a specific price is written into the contract and the buyer sees the price that the seller has stated. For a buyer who applies an escalation clause, the seller may construct a phony bid in order to drive up the sales price.
A written acceptance can be as formal as a letter stating that the buyer or seller will accept the terms outlined by the other party, or could be as simple as an email message acknowledging the acceptance of the offer or counter offer.
The Arkansas REALTORS® Association DOES NOT RECOMMEND the use of escalation provisions outside of the obligations and limitations created by AREC Regulation 10.10 and the embedded Pope County Bar Association v. Suggs decisions from the Arkansas Supreme Court.
A Letter of Intent is a document that outlines the general terms and conditions of an agreement between parties before the agreement is finalized. In real estate deals, a Letter of Intent are typical before entering large leases or an agreement to buy or sell commercial real estate.

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