can a seller raise his asking price after an offer has been made on the previous asking price?
i made an offer on a house two weeks ago and the seller has been illusive during this time. now i see the house i made the offer on listed at a higher price
(0) | asked by: karen robinson | share | 86 months ago | Report
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answer by Bob Winkler
Since the seller owns the house he can ask whatever he wants for it and sell it for what he can get. I do not understand their thinking. If the seller was not happy with the original price why did they agree to it. Maybe they got a lot of interest, maybe even offers and got greedy. If I was an agent in this situation I would probably have with drawn the offer long ago. This really sounds like a FSBO sale. If you are not represented by an agent you should be.
The seller can raise the price if the offer you made was not accepted in writing. The seller may have felt like the house was priced a little low if the offer came in quickly after it was listed or they may have decided that their market was experiencing an up-swing and wanted to take advantage of it. A seller is not locked into a price unless an offer to purchase was signed by all parties involved.
How many offers do you have??? be careful this market is taking another turn ...
If he did NOT accept your offer, then no valid contract was formed. Being illusive and not responding sounds as though all parties have not come into agreement on every item in the offer. Also when all paries agree on the terms of the offer, it must be in writing. If there is no "accepted" offer with all signatures, he can relist the property for another price. Your real estate agent should have given you this information. If you do not have an agent, I would be happy to refer you to one in your area. Let me know if I can help. firstname.lastname@example.org (NC agent)
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