There is nothing illegal or unethical for a seller to do so.

Why they would do that is another story.

June 30, 2014.

The seller can counter-offer the list price with a higher price. Does a Broker Have to Show a Seller an Offer?

Home sellers can't turn down offers based on racial or other forms of discrimination but that's about it. Going above the asking price doesn't always sweeten the deal. Even in slow markets, sellers can reject full-price offers.

It would be helpful to give the buyer a reason by allowing the agent to share it. Six considerations in selling your home yourself. © 2020 DearMonty, LLC, All Rights Reserved, Seven points to consider when home buying during COVID, When the listing agent and seller are great friends.

• Sellers should be notified of the existence of an offer as soon as it is signed by the buyer. They might want to test the market, or they are still completing repairs. Assuming there is currently no signed purchase agreement (since it appears you are still in the offer/counteroffer stage), the seller can increase the price to more than the initial asking price. Sometimes agent/sellers list below market value in hopes of getting multiple offers, above list price.

What Happens if the Property I Want to Purchase Is in the Loss Mitigation Department? • There is no law or rule preventing a buyer from offering to pay more or less than the listed price, nor the seller from counter-offering. Yes.
Lawyers.com: Real Estate: Home Shopping & Offer to Purchase FAQ, Realtor.com: The Basics of Making an Offer, MSN Real Estate: Make Your Home Offer Stand Out with a Handwritten Love Letter.

Do the Sellers Need to Respond to an Offer I Make on a Home?

The short answer is yes, the seller can.

• Pre-printed, industry approved, or state-approved state forms are the only legal way an agent can draft an offer without an attorney. For example, a $200,000 purchase offer asking for $25,000 in seller assistance on a $190,000 home is worth $10,000 less than a $185,000 purchase offer with no concessions ($200,000 - $25,000 = $175,000). 3.

If the seller (or the agent) is using this tactic with every potential buyer, a better solution may be to raise the price. • In addition to the sale price, the buyer and seller both incur additional customary closing costs.

The likelihood of a buyer receiving a counter … • The listing agent is the only agent that can consult with the seller unless the listing agent grants permission or the seller initiates a conversation.

What is different here is you are communicating with the seller. Home buyers can also improve their purchase offers by limiting contingencies and concession requests to only what's absolutely needed. However, when a home is just too attractive it might happen that a seller will see a purchase offer above listing price. Real estate sellers experiencing cold feet won't sign purchase agreements, for one, and without seller-signed purchase agreements no sales occurs. • In many cases, your agent will not know if there is another offer on a property.

Unfortunately, home sellers have been known to refuse even above-listing-price offers and little can be done to make them accept such offers. Home buyers turned down by sellers after making purchase offers can ask sellers and their agents just why their offers were turned down.

Ask an agent in the location you plan on transacting business for changes or additional rules. • The agent drafting the offer should keep the buyers informed as to the status of their offer. • All documents must be signed by all parties to the transaction.

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