If the seller has a counter offer on the table, can they accept another offer while their counter has still not expired?
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In CA, whether the counter offer is a multiple counter offer or not does not affect whether the Seller could accept another offer prior to acceptance of the counter offer by buyer. Clarification was added to both CAR forms to emphasize this: (SCO) "...Seller has the right to accept any other offer received, prior to Acceptance of this Counter Offer by Buyer..." (SMCO) "Seller has the right to accept any other offer received, prior to Seller selection of this Multiple Counter Offer." Hope this helps anyone reading this old thread!
It depends on if it is a binding or a non-binding counter offer? Does the counter offer say seller multiple counter offer or just counter offer at the top?
Yes, if it hasn't been accepted. To have a valid contract you need an offer, acceptance, and consideration. A counter offer basically revokes the original offer and the counteroffer becomes the offer. It must be accepted and communicated to the buyers that it has been accepted. Technically, here is where the consideration comes in . . . When escrow receives the funds the contract is fully executed. An unsigned counteroffer is not a valid contract. Consideration=deposit.
Hi, Dora, you have posted a new question in an old thread. But, the answer to your question is that after the seller accepts an offer or counter offer and acceptance has been communicated back to the buyer, the seller cannot accept another offer unless the first one is terminated. The seller could accept other offers as backup. There is no 72 hour rule. Hope this helps!
answer by Dora LeBlanc
if the seller accepts the counter offer is it final. is the seller still allowed to entertain other offers for 72 hours
Yes, which is why it's good to respond immediately to any counter-offer.
Until the seller has a fully executed accepted offer, they can entertain and accept another offer, even if there is a counter out. Time is of the essence when you are negotiating on a home.
yes, the seller can accept another offer since a counter offer is not binding intill fully executed.
The seller is not obligated to stick with any offer until it is accepted. Counter offers are not binding. The hope is, though, that the seller will either accept your counter offer or allow you a chance to raise your offer if a stronger one comes in. Best of luck!
Yes they can. They do not have to look at offers in order or continue with an offer if a new one is much better (higher and with better terms). If they are considerate, they will give you the opportunity to raise your offer to compete with the new one, but they are not required to. Hopefully your Buyer Agent has a good relationship with the listing agent and can work with them to get answers for you.
Yes they can, it spelled out in the counter offer that the Seller can continue to receive and accept another offer if the counter has not been received as accepted by the Seller or their agent, a Seller can also withdraw the counter made to the first Buyer and make a multiple counter offer to all Buyers
Yes a seller can accept another offer IF he has not accepted any other offer he has received. One at a time which ever that is would be a deal.
It can be accepted as a backup offer. Think of it this way you're only selling one home so you can only except one offer at a time.
As others have mentioned, yes the seller can accept another offer. It comes down to what offer was accepted and acknowledged first which now a days can mean minutes.
The seller is not obligated or has no bonding contract ,unless he has accepted one offer or counter offer. He may accept a new offer and sign it; as long as he has not acknowledge another one. Agents usually accept backup offers; in case if one fails.
Yes, the seller can withdraw his counter at any time prior to acceptance. Sometimes the form used as a counter allows the seller to Counter multiple buyers and not be bound until he acknowledges one of them.
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