ACCEPTING AN OFFER 5.1 Receiving an Offer. When an offer to purchase your house is received, Garry and Mary will present, explain and analyze the offer with you regarding price, financing and all other terms and conditions. A net sheet estimating 'net proceeds' from the sale will be calculated to help you decide whether you wish to accept, reject or formulate a counter offer. (If multiple offers and multiple counter offers are involved, they would be handled strategically). 5.2 Negotiations. As experienced agents in the intricacies of the Arizona Residential Resale Purchase Contract, Garry and Mary are experts in negotiating contractual terms and conditions to be beneficial to you. During negotiations, they will advocate on your behalf to your specifications. If appropriate, Garry and Mary will assist in drafting a counter offer to the offer that came up short of your expectations. Typically, counter offers will state that you have accepted the buyer's offer subject to certain changes in terms or conditions. Some negotiable terms or conditions are: Price Closing date Amount of earnest deposit Length of the inspection period Title company Homeowner's association fees Home warranty cost Appraisal fee Personal property/appliances Closing costs Throughout negotiations, Garry and Mary will provide you with professional, objective points of view; however, the final decision of accepting an offer or counter offer is always yours. 5.3 Opening Escrow. When a buyer and seller have a signed purchase contract, a copy of the executed contract along with the buyer's earnest money check are deposited into an escrow account at the Title Company. An earnest money receipt is faxed to both the listing and selling agents. 5.4 Streamlining the Process. Real estate contracts provide a series of deadlines for both buyer and seller. Keeping this series of events on schedule ensures a timely and successful close of escrow. Upon acceptance of an offer, Garry and Mary will give you a copy of the timeline they will be using to track the transaction, so you will always know what's next. Meeting the requirements on time contributes to a smoother flow of the transaction. Garry and Mary will also be: Staying in contact with the buyer's agent. Following up on the progress of the buyer's loan. Monitoring all contingency removal deadlines. Giving you copies of all documents. For more information or if you have any questions, please contact Garry and Mary at any time.