Open offer in real estate is a new concept and a new way of buying & selling real estate. The definition of open offer in finance is the rights issue that shareholders have when new shares are issued. Each shareholder rights are based on the portion of current stocks they hold.

Similar to the financial term of open offer, in real estate, we have created a system that provides potential home buyers the “right” to buy a property, after they have negotiated the best possible offer. The open offer negotiations are none binding and each party, sellers as well as buyers, can cancel their open offer at any given time.

Not like your typical auction or ebay, OpenOffer allows home buyers to set their own increments which are not public, so no one can see (not even the seller) how the Open Offer system will negotiate for the home buyer in case a competing home buyer set up their open offer on the same property.

In addition, each party can counter offer the other and when the parties finally agree on the purchase price, they can finalize the transaction off line and in writing.

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This is filed under How to Open Offer, Open Offer.

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