Once you have received an offer, there are four choices. You can accept the offer exactly as written. This means you are ratifying the offer, or are in a contract for selling your property. You can make a counteroffer by negotiating any terms including the purchase price, contingency periods and the escrow length. A back-up position can be offered if another offer has already been accepted. The buyer is then able to ratify their offer if your first offers falls through or cancels. Your final option is rejecting the offer.