Must A Home Seller Accept Our Full-Price Offer?
March 9th, 2009 By Peter G. Miller
Question: We made an offer — which was at the asking price — and owner thinks he now can get more and refuses to take our offer. Can he raise the price or does he have to accept?
Answer: He does not have to accept — just think of all the homes in hot markets that are sold for more than the asking price.
When a home is placed on the market a seller is really asking for bids. As well, price is one element of an offer, there are many more.
If there is a broker involved, an owner may be responsible for a real estate commission by refusing to accept an offer that meets all listing terms from a ready, willing and able buyer.
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Syndicated originally by Content That Works and posted with permission.
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