Home Buying in Los Angeles>Question Details

rchristina1, Home Buyer in Los Angeles, CA

After Buyer Accepts Sellers Offer, who needs to deliver the contract to whom?

Asked by rchristina1, Los Angeles, CA Sat Jun 2, 2012

After Buyer Accepts Sellers Offer, who needs to deliver the contract to whom? Is it in person to Listing Agent? Can it be just e-mailed? What is the time frame for delivering in person? What needs to be delivered Final Counter Offer or Purchase Agreement needs to be revised to the final agreed price and then delivered to Listing Agent, Escrow?

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I am assuming you meant seller's counter-offer... since the buyer would have to initiate the original offer.

It is common for the listing agent to gather the offer and all counter-offers after they have been executed (signed by all parties) and thend send them to the escrow company to "open escrow"... the escrow companywill then arrange for the earnest money deposit to be delivered or wired to them and then type escrow instructions and away you go on your way to home ownership!

Hopefully you have a competent buyer's agent that you trust representing you. It is free and to your best interest. Do not go at it alone..
If you like my answer give it a thumbs up!


Best of luck!

Ron Escobar, MBA
Broker & General Contractor
ron@select-realestate.com
2 votes Thank Flag Link Sat Jun 2, 2012
Dear Rchristina1,

The offer can be presented in person to the listing agent. Secure email is becoming more popular with Realtors and I see a paperless move generally in the industry. All of these document are presented to the seller before escrow.
For clear and concise answers to questions you should refer to your buyer agent..who I hope is working with you.
1 vote Thank Flag Link Sun Jun 3, 2012
I hope you are working with a buyers agent though based on your qeustions my guess is you are not.

Your agent should revise the contract. You will sign it and then it is delivered to the listing agent to have the seller sign. Email is fine.

Once you the buyer have received the fully executed contract back you need to get a copy to your lender, schedule your insepctions and deliver the earnest money and/or diligence fee to the lsiting agency unless your contract specifies otherwise.

Buyers need their own agents. Wokring with the listing agent is foolish and getting specific contractual advice on-line is a receipe for disaster.
1 vote Thank Flag Link Sat Jun 2, 2012
Hello Christina,

Once a purcahse agreement has been fully executed meaning all parties have agreed on the terms and conditions and signed it is delivered to escrow within one to two business days.
If there are counters the counters along with the purchase agreement and buyer's deposit are delivered to escrow.

Delivery can be done in person or by courrier.

I actually like to deliver to escrow in person. I like to have a face to face with the escorw officer.
0 votes Thank Flag Link Thu Jun 7, 2012
A. Mahealani Dominguez, Agent, Los Angeles, CA below has given you the most complete answer, but the real answer is that it is everybodies job. A deal cannot go forward without an enforceable contract so if there is a question about this at this early stage, then it is going to be a real rough transaction. The process of negotiation sometimes muddies paperwork so it is in the best interest of everyone to put together a clear package and be sure that everybody has a complete copy. In CA there has to be acknowlegement of the acceptance so all parties need to be on the same page. Escrow should not accept any money or assign an escrow # without fully executed, fully legible copies of the contract.
0 votes Thank Flag Link Mon Jun 4, 2012
Ron Escobar below has answered your question correctly!
0 votes Thank Flag Link Sun Jun 3, 2012
Whoever has the most complete copy must deliver it to the other party. If Buyer is accepting Sellers offer that leads me to think that Buyer has the most complete copy. Delivery requirements are determined based on state laws and any specifics in the contract. Generally, around here we just email it and confirm receipt.... but our contract allows that. Although some people will send only the "changed" parts, I always send the contract in its entirety.

By the way, your agent should be able to answer this... it's RE 101. You do have an agent, right?
0 votes Thank Flag Link Sat Jun 2, 2012
The last party to accept an offer or counter offer should deliver the acceptance to the other party in the purchase transaction. (If buyer signs final acceptance, buyer's agent delivers to seller's agent, or vice versa)
The purchase contract and any counters can be delivered electronically (email) which makes it easier to send copies to the various parties involved (the buyer, seller, their agents, escrow, buyer's lender, etc).
As soon as a contract is accepted by all parties, it should be delivered to the seller's agent as soon as possible, as the buyer only has 3 days from acceptance to get his good faith deposit into escrow.
If there are counters issued against the original offer, then they all tie in together, no need to rewrite the original offer. Think of the counters as amendments to the orignal offer to purchase.
The listing agent will deliver the offer and all counters to escrow and the next step would be to arrange deposit of your good faith deposit into escrow, which is done in a variety of ways, the most preferred menthod is via wire transfer.
Hope this helps.
0 votes Thank Flag Link Sat Jun 2, 2012
You've asked a number of questions here...so I will try to answer one at a time/

The buyer makes the offer & the seller either signs it or counters. Once all parties have signed the 'confirmation of receipt' - it is sent back to the other agent via email or fax. The listing agent ultimately needs the executed contract (with all signuatres) in order to open escrow.

If there are time frames, they are noted on the contract and/or counter offers. If in doubt, ask your agent about YOUR contract.

The final, signed counter offer needs to be delivered along with signed copies of the contract and all counters.
0 votes Thank Flag Link Sat Jun 2, 2012
Man alive, if you don't know this, you are forewarned. Forget the power play about "who should do it", if you want any offer confirmed, deliver as soon as possible in any way possible. (The acknowledgment of receipt is not required, but you might want to request it.) And escrow will inform either party if a document is missing. The original offer does not get revised--as the counteroffer terms override it.
0 votes Thank Flag Link Sat Jun 2, 2012
1) Once you have your initial purchase offer and counter offers signed by both seller and buyer, you have a binding contract! Then, it should be delivered to an escrow company or as stated in the contract.
2) Listing agent, buyer's agent, or real estate attorney should revise it before delivering to escrow.
3) Once revision is acceptable, it could be emailed only under the approval and aknowledgement of all parties involved.
4) Delivery time is stated in contract; it could be for example after buyer's inspection contingency removal time.
5) Do you have an agent representing you in this purchase?
0 votes Thank Flag Link Sat Jun 2, 2012
If you can't answer a basic question like this,
you shouldn't be acting as your own Realtor.
0 votes Thank Flag Link Sat Jun 2, 2012
Read Larry's comment, exactly as it should be.
Thanks Larry, couldn't have said it better myself.
Buyers, you don't save money by doing it yourself , instead it actually costs you time and mistakes.
0 votes Thank Flag Link Sat Jun 2, 2012
Here in Connecticut, the norm is to revise the real estate purchase contract based on the final agreed terms and conditions set forth by the sellers and the buyers.

The listing agent and the buyer's agent will handle the delivery of the contract. Email transmission, as long as the copy is legible, is acceptable.

I hope this helps.
0 votes Thank Flag Link Sat Jun 2, 2012
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