| You |
| Your real estate representative helps you prepare an Offer to Purchase.This offer should include all the details of the sale. | You may want your lawyer to look at the offer before you show it to the vendor, because it is a legally binding document. | Your real estate representative will then present the offer to the vendor, who will accept (1), make a counteroffer (2) or reject (3). |
| Vendor |
Situation 1
The vendor accepts your offer. The deal is concluded. | | |
Situation 2
The vendor may make a counteroffer, asking for a higher price or different terms. | You sign the offer back to the vendor with a higher price than your original offer, but lower than the vendor's counteroffer. | The vendor accepts this counteroffer. The deal is concluded. |
Situation 3
The vendor may make a counteroffer, asking for a higher price or different terms. | You reject the counteroffer and decide not to make a subsequent counteroffer. | The sale doesn't go through and your deposit is returned. |
