Once an Offer on your Home comes in, we are in Negotiations. This is when you'll want to be by your phone, so to speak. Negotiations can be stressful especially if you've no idea what to expect, like a "low ball" offer that seems like a personal attack. Most offers will have Conditions that need to be met, and all offers should be seriously considered and negotiated accordingly. You'll have three options: Accept, Counter, or Reject.

Accepting a Conditional Offer requires certain tasks to be carried out over a set period of time. 

Countering a Conditional Offer tells the Buyer what you won't accept and what you will accept. They can then Accept, Reject, or Write a New Offer.

Rejecting an Offer is pretty self-explanatory. The Buyer could still choose to Write a New Offer but they will likely look elsewhere.

Once both sides have come to an agreement, you'll have an Accepted Conditional (if there are Conditions) Offer. For the next few weeks you'll be preparing for Home Inspection, completing any tasks you agreed to do, and waiting for updates. If all goes well, then whoever placed the Conditions will need to Remove the Conditions before the set time has expired. Once that is done, you have a Firm Sale.