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Multiple Offers |
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When a seller gets multiple offers at one time on their property, can they counter more than one offer at a time? We were in this situation as a potential buyer. I understand they might want all parties to re-present their "best" offer, but they acutally countered 2 offers at the same time (one buyer dropped out) Both the listing agent and our buyer's broker said this was OK. We lost the house, but would like clarification in case it comes up again in this small town market.
Your insight is greatly appreciated,
Rich |
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If you ask me, those sellers were lucky one buyer dropped out. What a legal mess it would have been if both counters were accepted and they were legally obligated to sell to two different buyers!
Of course I haven't seen the documents. Perhaps one counter contained a phrase saying the sale would take effect only if the other fell through or something of that sort. |
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Edith
Originally published on October 14, 2007 |
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