From Offer to Closing | List4Less Seller Suite

Part One

Receiving & Evaluating an Offer

Offers come from buyer’s agents via email as a written NJ purchase agreement. Here’s what’s in one and how to think through your response.

The Offer Arrives

A buyer’s agent sends you a signed NJ Residential Sales Agreement via email. It includes the offered price, earnest money deposit, proposed closing date, and all contingencies. You are under no obligation to respond within any particular timeframe, though responding within 24–48 hours is standard practice. Take time to read the full document before reacting.

Your action: Read carefully, don’t sign anything yet

Evaluate Offer Strength

Price matters, but it’s not the only variable. A strong offer has a substantial earnest money deposit (typically 1–2% of purchase price), pre-approval from a reputable lender, a realistic closing date, and limited contingencies. An all-cash offer with no contingencies is almost always stronger than a higher financed offer. A short inspection period and waived appraisal contingency are also signs of buyer confidence.

Key variables: price, deposit, financing, contingencies, closing date

Understanding the Contingencies

Most offers include three contingencies. A mortgage contingency lets the buyer exit if they can’t secure financing — check the commitment deadline and what happens if it isn’t met. An inspection contingency gives the buyer the right to inspect and request repairs or credits. An appraisal contingency protects the buyer if the home appraises below the purchase price, allowing them to renegotiate or walk away. Cash buyers often waive some or all of these.

Fewer contingencies = lower risk of the deal falling apart

Your Three Responses

You can accept the offer as written, reject it outright, or issue a counteroffer with modified terms. A counteroffer changes the price, closing date, contingency terms, or any combination — the buyer then accepts, rejects, or counters back. You can go back and forth as many times as needed. Nothing is binding until both parties have signed the same version of the agreement.

A counteroffer resets the clock — either side can walk away until signed

Multiple Offers

If you receive more than one offer, you can accept the strongest outright, counter one or more simultaneously, or issue a “highest and best” request — asking all buyers to submit their best and final offer by a set deadline. You are not required to disclose other offers or their terms. Evaluate each offer holistically: a slightly lower offer with no contingencies and a strong deposit may net you more at closing than a headline-grabbing price with shaky financing.

Highest and best deadline: typically 24–48 hours

Both Parties Sign

Once you’ve agreed on terms and both parties have signed the same purchase agreement, you have a fully executed contract. The buyer delivers their earnest money deposit — typically to the listing broker or attorney trust account — within the timeframe specified in the contract. The three-business-day attorney review period begins the day after the last party signs.

Attorney review begins the next business day after final signatures

Worth Knowing

What If the Buyer Has No Agent?

General information only — not legal advice. Consult your own real estate attorney before taking any action involving an unrepresented buyer.

Since the 2024 NAR settlement, unrepresented buyers are more common. If one contacts you directly: you have no obligation to guide or protect their interests — be factual about the property, nothing more. The buyer is generally responsible for obtaining the purchase contract; your attorney should review it before you sign. If you offered a buyer commission, an unrepresented buyer may ask you to reduce the price by that amount — how you respond is your decision to make with your attorney.

A transaction with no representation on either side carries real risk. If the situation feels unclear or complex, upgrading to full service means your agent manages the entire transaction and your $399 is credited at closing.

Full Service Available Anytime

This Is the Moment Most Sellers Call Their Agent

Evaluating an offer, negotiating terms, responding to a counteroffer — it’s manageable when the deal is clean. But if the terms are unusual, multiple offers are coming in, or you’re simply not sure what you’re looking at, this is exactly what full service is for. Your agent takes over the entire process from here — every offer, every counter, every call from the buyer’s agent.

All offers presented and explained

Negotiation strategy and representation

Every counteroffer drafted and sent

Inspection response guidance

Appraisal gap and repair negotiations

Contract management through closing

Get Your Full Service Rate → Your $399 flat fee is credited in full toward the commission at closing.

Already confident handling this? Keep reading — everything below will guide you through attorney review and what to expect through closing day.

Part Two

Attorney Review

NJ is one of the few states where attorney review is a standard, protected part of every residential transaction. Here’s exactly how it works.

The Three-Business-Day Window

Starts the business day after the last party signs

Once both parties have signed the purchase agreement, a three-business-day attorney review period begins. During this time, either side’s attorney can send a Notice of Disapproval — formally rejecting the contract — or a Notice of Modifications, requesting changes to specific terms. If neither attorney acts within three business days, the contract automatically becomes binding.

Common items addressed during attorney review include changes to the closing date, deposit amounts, what’s included or excluded from the sale, the length of the inspection period, and specific contingency language. The goal is to refine the contract, not renegotiate the price.

Retain your attorney before you go active — not after an offer arrives. Attorney review starts a three-business-day clock. You do not want to be searching for representation while that clock is running. The Trusted Professionals Network includes NJ real estate attorneys who are experienced with this process.

What Happens During Attorney Review

The back-and-forth between attorneys

Your attorney reviews the contract and contacts the buyer’s attorney with any requested modifications. The buyer’s attorney responds — accepting some, rejecting others, or proposing alternatives. This continues until both attorneys agree the contract is in acceptable form, at which point they both sign off and attorney review is officially closed.

During attorney review, either party can still walk away without penalty. Once attorney review closes, the contract is binding — backing out at that point puts your earnest money deposit at risk if you’re the buyer, or exposes you to legal action if you’re the seller.

You don’t negotiate directly with the buyer during attorney review. All communication goes through your attorneys. Don’t contact the buyer or their agent about contract terms once this process begins.

When Attorney Review Closes

The contract is now binding — the clock starts on all remaining deadlines

Attorney review closes when both attorneys confirm the contract is approved, or when the three-business-day period expires without any objection. From this point, all contract deadlines run — the inspection window, mortgage commitment date, and closing date are all measured from this moment.

Write down the date attorney review closes. Every deadline in the section below is calculated from that date. If you miss a deadline — or allow the buyer to miss one without requesting an extension in writing — you may inadvertently waive a protection or put the deal at risk.

Part Three

Your Contract Timeline

Enter your attorney review close date and key contract dates below. The tool calculates typical deadlines and flags anything approaching or overdue. Print or save this page as your closing reference.

Contract Date Tracker

Fill in dates as they are confirmed by your attorney. Typical timeframes are shown as a guide — your actual contract dates control.

Starting Point

Attorney Review Closes The date both attorneys confirmed the contract is approved. All other deadlines run from here.

Inspection Period

Inspection Deadline Buyer must complete all inspections by this date. Typically 10–14 days from AR close. Check your contract.

Inspection Response Deadline Seller must respond to buyer’s repair requests by this date. Typically 3–5 days after inspection report received.

Financing & Appraisal

Mortgage Commitment Date Buyer must have a written loan commitment from their lender by this date. Typically 30–45 days from contract. Missing this date without an extension may void the mortgage contingency.

Appraisal Expected Ordered by the buyer’s lender. Typically completed 2–3 weeks before the mortgage commitment date. You’ll be notified of the result by your attorney if it affects the contract.

Pre-Closing

Clear to Close (CTC) Lender confirms all conditions are satisfied and the loan is approved to fund. Typically issued 3–5 business days before closing. This is when scheduling becomes firm.

Final Walkthrough Buyer inspects the home one final time to confirm condition and that all agreed repairs were completed. Typically 24–48 hours before closing. Home should be vacant and in agreed condition.

Closing Day

Closing Date The date of settlement. Keys transfer, title changes hands, and you receive your proceeds. Bring your government-issued ID. Closing typically takes 1–2 hours.

Possession / Vacancy Date The date you must vacate and the buyer takes possession. Typically the same as closing, but sometimes the seller negotiates a short post-closing occupancy period. Check your contract.

Navigating a complex transaction? Entry-only is self-directed — for real estate questions specific to your transaction, the right move is upgrading to full service. Your agent takes over from wherever you are, and your $399 is credited at closing.

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