Mutual Acceptance

When a buyer submits an offer to a home seller, and both parties agree on the price and terms of the offer, they'll both sign a a copy of the buyer's offer. At this point, the buyer and seller have reached mutual acceptance.

Over the following 30-45 days, the buyer will complete several tasks in order to complete the purchase of the home, and the home's title will be transferred from the seller to the buyer. Collectively, the period of time between mutual acceptance and closing the deal is known as post-mutual.

In many parts of the country, buyers and sellers will sign a formal contract, known as a purchase and sale agreement, at mutual acceptance. However, in Massachusetts, the purchase and sale agreement is not signed until after the buyer has locked up financing and completed the home inspection.

Visit our page on the purchase and sale agreement to learn more about this document, and how it works differently in Massachusetts when compared to other areas of the country.