Once the offer has been drafted and signed, it will be presented to the seller and their Realtor® in a timely manner.
The Negotiation Begins
- The seller may change the price, closing date or the terms and conditions. This is called a counter offer or a sign back.
- The negotiation continues until both parties agree on all terms and conditions or until one party walks away and the offer expires.
From time to time, an offer on a property may be competing with other offers. When the seller receives more than one offer, they have several choices:
- Work with the best offer
- Send back some or all offers and ask them to improve their offers
- Accept one offer
- Work with one, while holding the others
When competing with other offers, it is important to reconsider your bargaining strategy and remove, or reword as many conditions as possible to improve your offer.
No disclosures are made between parties, so no one knows, except the Seller and their Realtor®, what the other offers contain.
** Its important to note, that these rules and ethical practices apply to Brokered transactions. When dealing with Private Sales or Mere postings rules and ethical practices do not always apply for the seller as they are not regulated or being represented by someone who is licensed and regulated.
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