Must All Real Estate Offers Be Delivered?
August 30th, 2008 By Peter G. Miller
In the general case, brokers must submit all written offers until a seller accepts an offer. However, because contracts can fall through, the view here is that all written offers should be presented because there can be a need for a back-up agreement.
Brokers typically have no obligation to present oral offers — “if I offered $500,000 would the owner take it?”
The logic is that an oral offer, once reduced to writing, might contain vastly different terms — “Well, I thought about it some more and decided the best I could offer was $480,000.”
While a broker is typically required to present a written offer, there’s no obligation for a seller to accept an offer or make a counter-proposal.
Speak with local brokers for details.
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