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What happens when I receive an offer?
What happens when I receive an offer?
Bōdie avatar
Written by Bōdie
Updated over a week ago

First off, congratulations!

Your offer and all the details included with it can be found on this page: My offers. When you click on the link, you can see the summary as well as the expiration date and time.

Bōde has a partnership with Deeded: a home closing platform that connects homeowners with specialised real estate lawyers. As a part of the selling service we provide, you’re able to book a legal review of your offer free of charge. Book your appointment here.

Countering an offer: If you would like to counter the offer, first, accept the terms that you agree to, then you can proceed to counter on those you would like to change or improve. You can do this on a term-by-term basis, so it is clear to both parties where you have agreed and where you still require agreement. There is no limit to the number of counters from each party towards an agreement. However, the deal will expire if agreement is not met within the expiration timeframe.

Agreement: Once both parties have agreed, you will receive an email from the Bōde Team confirming the deal or seeking clarifications on some details if needed. After that, the populated industry-standard contract will be sent via email in DocuSign for all parties to complete. This process is the same regardless of whether the buyer has an agent or if they are unrepresented.

After all parties have accepted the Purchase Agreement, the step-by-step process to arriving at the Possession Day is as follows:

  1. The deposit will be sent to Bōde, which will be held on your behalf in our regulated trust account.

  2. Any conditions identified in the agreement process will be removed and trigger a notification to the other party. Note: If any condition is not waived, the deal fails as a result the sale is nullified.

  3. When all conditions are removed, the Purchase Agreement becomes binding.

  4. We will send you a conveyance package to take to your lawyer. The specialist lawyers at Deeded are happy to support you, or you may choose from vetted legal Prōs in our Prō Marketplace. Equally, you may find a lawyer on your own if you wish.

  5. Your lawyer will distribute the funds to the appropriate parties (considering the mortgage, any applicable fees etc.).

  6. Keys will trade hands when the lawyer determines that all distributions have been made.

Reminder: Upon sale, you will need a Real Property Report for closing. If you don't have a current RPR, we can refer an excellent RPR Provider in your area. We can also provide a referral to a lawyer, cleaner, general contractor or mover. Contact us via the chatbot for more information. We would be happy to connect you with a preferred Prō.

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