Archive for January 2017
What Does it Mean When I am “Under Contract” to Buy or Sell Real Estate?
Offer and Acceptance A buyer and seller are said to be “under contract” for the purchase and sale of real estate when the buyer makes an offer to purchase a property at a certain price under certain terms and the seller accepts the buyer’s offer. In some cases, the seller may counter the buyer’s offer…
Read MoreGoliath vs. Goliath – Econ 101: avoiding the costs of unnecessary contract stalemates
Fundamentally, the successful closing of most commercial transactions boils down to a basic principle learned in Econ 101: the seller’s supply curve and the buyer’s demand curve meet at an equilibrium price for the quantity of goods or services being sold. There is a “win-win” for both sides: the buyer purchases something it values and…
Read More