The major elements of the offer are:

Price - The price offered is generally different from the asking price and determined by outside factors.

Deposit - The deposit shows the buyer's good faith and will be applied against the purchase price of the home when the sale closes. I can advise you on the suitability of the amount of the deposit being offered.

Terms - Includes the total price the buyer is offering as well as the financing details. The buyer may be arranging his/her own financing or may ask to assume your existing mortgage if you have an attractive rate.

Conditions - These might include "subject to home inspection", "subject to the buyer obtaining financing", or "subject to the sale of the purchaser's property."

Inclusions and Exclusions - These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.

Closing Date - The day the title of the property is transferred to the buyer.

Occupancy Date - The day the buyer will take possession of the house, which is generally 3-6 days after the Closing Date.