Multiple Offers….Wahoo!

Multiple Offers….Wahoo!

by Steve Meyers
April 18th, 2016

So, your full service real estate agent did a wonderful job helping you prepare your single-family home or condominium for sale and he / she did an outstanding job marketing the property on-line, through “Open Houses” and directly to buyers and real estate agents. The date has come to “Review” Offers from buyers and you’re thrilled. There are 7 Offers to Purchase your property from buyers.

Back-up a few steps. Here are some things you may or may not have known. Did you know that you can share the terms and conditions of any of the Offers with one or more of the other potential buyers? Yes, if a seller would like their real estate agent to contact one of the other buyers and tell them what their current highest and best offer is and, allow that buyer to meet or beat the current Offer, the seller is allowed to do just that.

Did you know that a seller cannot accept an Offer based upon any of the protected classes as outlined by the federal government. For instance, a seller cannot accept an Offer because a couple has young children and the seller would like to sell their home to a family. This would be discrimination towards a single person who doesn’t have any children.

Once a seller reviews all 7 Offers and settles on one Offer to pursue, the seller should write on the first page of each of the other 6 Offers that the seller has reviewed the Offer and “Rejects” that Offer. The seller should then initial where he / she has indicated they have “Rejected” the Offer. Their real estate agent should then forward a copy of the first page to the agent representing that buyer.

Advertisements

0 Responses to “Multiple Offers….Wahoo!”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s





%d bloggers like this: