Stage 2 of 4 · Buyers & Sellers
The Offer Package, Explained
Written by the Turner Realty Team · Reviewed August 2026
When a buyer wants to make an offer, it isn't one form — it's a small package of forms working together. Here's what's in it, and what each piece is for.
Confirming who represents you
Before an offer gets written, the buyer signs an Agency Disclosure Acknowledgement confirming they understand who represents them — their own agent as a full client, a Turner agent providing a lighter-touch customer service, or a dual agency arrangement (see below). It's the same kind of disclosure a seller signs at listing, from the buyer's side. Getting this in writing up front means nobody is unsure, mid-negotiation, whose interests an agent is actually representing.
When one brokerage represents both sides
On a team like ours, it's common for the same brokerage to represent both the buyer and the seller in a single deal. When that happens, both parties sign a Dual Agency Acknowledgement confirming they understand and consent to it in writing. It's worth being clear about what this changes: the agent(s) involved owe a duty of fairness and confidentiality to both sides equally, and can't advocate for one side's interests over the other's. That also means an agent in a dual agency situation can't pass along what one side has told them in confidence to the other side.
The actual contract
The APS is the four-page contract at the centre of the whole transaction. At a high level, it sets out:
- The purchase price
- The deposit amount, and how and where it will be held
- The closing date
- What's included and excluded from the sale
- Any conditions attached to the offer
- The offer's irrevocable date — the window during which it stands and can't be withdrawn
Once accepted by the seller and countersigned, it's a legally binding contract. Deposits are typically due to the listing brokerage's trust account within a short window of acceptance — often described as within 24–48 hours — but your agent will confirm the exact timing written into your specific offer.
Where the specifics of each condition live
When an offer includes conditions — financing, a home inspection, the sale of the buyer's current home, and so on — the details of each one get spelled out on Appendix “A,” attached to the APS. Each condition gets its own deadline. See Conditional to Firm for what happens to each condition between acceptance and closing.
A dedicated form for the inspection condition
Because a home inspection condition is so common, it gets its own two-page addendum rather than sharing space with everything else. It sets the specific deadline for the buyer to complete their inspection and respond, and it's where the buyer, seller, and their agents document exactly how that response happens — whether the condition is satisfied, waived, or the buyer wants to negotiate a repair or price adjustment based on what the inspection found. See Conditional to Firm for how conditions get formally cleared using the Waiver & Satisfaction of Conditions form.
What the seller can do with an offer
Once an offer arrives, the seller has three options:
- Accept it as written — the deal is binding once countersigned
- Accept subject to a Counter Offer — any term the seller wants changed (price, closing date, an inclusion) gets written up and sent back to the buyer as a new offer, who then has their own window to respond
- Reject it — the offer simply lapses
A counter offer is a new offer, not an edit to the old one — each round resets the clock and starts a fresh irrevocable window.
What's next: once an offer is accepted, the deal becomes conditional (if it has conditions attached) or moves straight to firm. See Conditional to Firm for what happens between acceptance and closing.
Common questions
What's the difference between ‘customer’ and ‘client’ representation?
A client relationship means your agent owes you full representation — advocacy, confidentiality, and advice specifically in your interest. A customer relationship is a lighter-touch service arrangement without that same duty of advocacy. The Agency Disclosure Acknowledgement is where this gets spelled out and confirmed in writing before you make or receive an offer, so you know exactly what kind of representation you have.
What happens if my brokerage represents both the buyer and the seller?
That's called dual agency, and it happens routinely on a team like ours — both sides sign a Dual Agency Acknowledgement confirming they understand and consent to it. In a dual agency situation, the agent(s) involved owe a duty of fairness and confidentiality to both sides equally and can't advocate for one side's interests over the other's, which also means they can't share what one side has told them in confidence with the other.
How much deposit do I need to put down with an offer?
There's no fixed provincial minimum — the deposit amount is proposed as part of your offer and is one of the things a seller weighs when deciding how to respond. Your agent can advise on what's typical for the price range and market you're in. Once accepted, the deposit is held in the listing brokerage's trust account, typically within a short window of acceptance — your agent will confirm the exact timing that applies to your deal.
What is an irrevocable date?
It's the deadline written into the offer by which the other party must respond — accept, reject, or counter. Until that date and time, the person who made the offer can't simply withdraw it. It gives both sides a defined window to make a decision rather than leaving an offer open indefinitely.
Can a seller negotiate an offer instead of accepting or rejecting it?
Yes — that's what a Counter Offer is for. Any term the seller wants to change (price, closing date, an inclusion, a condition) gets written up as a Counter Offer and sent back to the buyer, who then has their own window to accept, reject, or counter again. Each round is a new offer, not an edit to the old one.
This page is provided for general education about the Newfoundland and Labrador real estate process and does not constitute legal, financial, or tax advice. Forms, requirements, and terminology described here are current as of the date this page was last reviewed and may change. Always confirm the specifics of your own transaction with your REALTOR® and a licensed NL real estate lawyer.