An offer that is direct, without any conditions.
The buyer makes a firm offer when they are 100% certain about purchasing a home.
Once the offer is made, the BUYER is legally obligated to follow through with the transaction and cannot back out of the deal.
This means that you have committed to purchasing the property, without an inspection or finance condition.
Pros:
More likely to have offer accepted.
Can help in multiple bid situations.
Seller may accept bid faster with no conditions.
Cons:
The buyer cannot back out for any reason, i.e. roof problem, siding, etc.
. The value of the home must be approved by the lender.
. The deposit is forfeited if the buyer is at fault for the deal not closings.
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