When you've got a serious buyer, you'll receive a written offer to purchase your home, sometimes called an "earnest money" or "residential purchase agreement."
You won't have very long to decide whether or not to take the offer or propose a counteroffer -usually 48 hours or less- so it's important to be informed ahead of time.
You're not required to accept any offer.
A home purchase offer will likely include:
A seller will usually respond to a buyer's offer with a counteroffer that accepts some of the terms but proposes changes to others.