Even in the slowest real estate markets, your client’s offer can be rejected by a seller for any number of reasons. However, in a hot real estate market, the chances of an offer being overlooked are much higher.
Can a Realtor reject an offer?
According to the National Association of REALTORS®, offers may be refused verbally. However, it’s recommended to have sellers sign or initial any home offer rejected. Sellers have several options when receiving a bid: make a counteroffer with revisions, reject your offer or accept your offer as-is.
Why would a realtor not respond to an offer?
Another reason your offer might go unanswered is if it’s too low. “If an offer is far from what a seller expected to receive, many times they won’t respond at all,” says Parnes. Other times you might not hear back for a completely unrelated reason—such as the seller is out of town or on vacation.
Can a real estate agent lie about other offers?
Another example of real estate agent lies is telling buyers that they have multiple offers on the table. This is a common lie agents tell potential buyers after they have seen a house and shown interest. This can also happen after a potential buyer puts in their first offer.
What happens if offer is rejected?
Typically, when a seller rejects your offer they come back with a counteroffer to potentially negotiate a deal what works better for them. If your offer is rejected without counter, it might mean that your offer was too low to be considered by the seller.
Can I outbid an accepted offer?
If the purchase contract hasn’t been signed, the seller could accept another offer, even if you think they’ve accepted yours. The seller generally cannot cancel your contract if you are in compliance simply because the seller received a better offer from another buyer.
Can I decline an offer on my house?
Rejecting an offer is entirely legal as long as you do it for the right reasons. … But sellers cannot discriminate against individuals protected under state and federal law. For example, you can’t refuse to sell a home to someone simply because they have kids or are of a different race from you.
What do you do when a realtor won’t respond?
A: Typically, most Realtors will respond to your inquiries as soon as possible. Some agents will not respond if the property is already under contract. I would suggest you consult with a buyer agent specialist to work for you. You can call your local real estate brokerage and ask to speak with the broker on duty.
Can you withdraw an offer on a house before it is accepted?
An offer to purchase a property can be rescinded or withdrawn at any time before it is accepted. For a rescission to be effective it must be given as a notice in writing and received by the other party. … Rescission of an offer is not effective until it is delivered to the other party.
Why would a seller accept a lower offer?
In your situation, while a competing offer might have included a lower price, it could be more attractive for other reasons. For example, the seller might prefer to choose an offer that doesn’t include a financing condition, or other conditions around inspections or the sale of the buyer’s home.
Do real estate agents have to tell you about other offers?
Legally, agents in NSW are allowed to disclose current offers to any other potential buyers. Agents are required to inform the seller of all offers made to purchase the property, but there is no law to prohibit the disclosure of offers to potential buyers.
Can I make an offer on a house that already has an offer?
You can make an offer on a house that already has an offer, provided the executed contract has not been signed. You can also have an offer accepted in this situation, or ask the seller if they could put your on their back up list.
Is my Realtor lying?
If you’re unsure whether an agent is lying to you about their production, a simple phone call to their broker to find out their track record will usually uncover whether they’re lying or not about their sales history.
Can a seller not respond to an offer?
While some sort of response is typical, there is nothing illegal or unethical if a seller does not respond. A seller may dismiss an offer altogether if they believe it to be unreasonable, incomplete, or otherwise not in their best interests.
Can a seller reject a full price offer?
Home sellers are free to reject or counter even a contingency-free, full-price offer, and aren’t bound to any terms until they sign a written real estate purchase agreement.
How do I convince a seller to accept my offer?
10 Ways To Get Your Offer Accepted In A Seller’s Market
- Make Your Offer As Clean As Possible. …
- Avoid Asking For Personal Property. …
- Offer Above-Asking. …
- Put Down A Stronger Earnest Money Deposit (EMD) …
- Waive The Appraisal Contingency. …
- Make A Larger Down Payment In Your Loan Program. …
- Add An Escalation Clause To Your Offer.