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Step 9: Negotiate and Ratify the Contract

Counter until you agree, then both sides sign. The ratification date starts every deadline in escrow.

Few offers are accepted exactly as written. The seller may accept, reject or send a counteroffer that changes price, credits, dates or terms. You can accept, reject or counter back. Unbeatable keeps each version so you can see exactly what changed.

Negotiating tips

  • Negotiate the whole package, not just price. A seller credit of $8,000 can be worth more to you than an $8,000 price cut, because it lowers your cash to close.
  • Keep your walk-away number from running the numbers.
  • Put every agreement in writing in the contract or an addendum. Verbal promises aren't enforceable.

When the contract is ratified

A contract is ratified when both sides have signed the same final terms and the last signature has been delivered. The date of ratification starts the clock on:

  • Delivering earnest money, often within 1 to 3 business days
  • Applying for your loan, often within a few days
  • Each contingency period: inspection, appraisal and financing
  • The closing date

Missing a deadline can cost you a contingency or your deposit. Unbeatable lists every deadline from the ratified contract so nothing slips.

What happens next

You're now "under contract" and the deal moves into escrow. The next 30 to 45 days are about verifying the home, the title and your loan. The rest of this guide covers each step in order.

Next: open escrow and deposit earnest money.

Your next move, by loan program

  • Conventional: Once ratified, send the contract to your lender right away. Conventional appraisals are ordered after the application. Go to my loan
  • FHA: Send the ratified contract to your lender. FHA case numbers are assigned at this point, and the appraisal is ordered under that case. Go to my loan
  • VA: VA appraisals are assigned through the VA's system and can take longer in busy areas, so order it quickly. Go to my loan
  • USDA: USDA loans need a final review by USDA after the lender approves, so start the loan file the day you ratify. Go to my loan
  • Jumbo: Lock in your timeline. Jumbo underwriting and any second appraisal start once the contract is in. Go to my loan
  • Investor: Send the lease or a rent schedule with the contract. DSCR underwriting uses it to confirm rent. Go to my loan