OK, the seller has accepted your offer, what happens next?
A purchase agreement is signed by both parties.
An offer is considered “under contract” when it has been accepted in writing and signed by both parties. The written contract is referred to as a purchase agreement.
At this point there are two scenarios:
The purchase agreement is signed by buyer & seller
This is the most desirable outcome,
The seller wishes to negotiate.
The seller may show interest in your offer by making a counter offer.