Real Estate Word of the Day: Acceptance
In the context of real estate, acceptance is defined as "the grantee's taking of a deed of transfer." The acceptance stage is one of the most pivotal in both the home buying and selling processes. As both a buyer and a seller, an acceptance is just what you're looking for, and is the first major step towards your goal. But what exactly is an acceptance? Once an offer has been made by someone looking to purchase a property (the buyer), the seller and their agent can then make a decision as to whether this is an offer they want to accept. If they agree, both parties have now entered a mutual acceptance. An acceptance requires no signing of contracts, and is non-binding. In our own Broker, Tom Crimmins' words, "An acceptance is a gentleman's agreement in writing so that the attorneys can draw up contracts."
Looking to buy or sell your home on Staten Island? For all your real estate needs, look no further than Tom Crimmins Realty! Give us a call at (718) 370-3200, and we can provide you with professionally-trained agents who are flexible to all that you’re looking for!Posted by Tom Crimmins Realty on
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