2006-06-09 06:51:13 · 6 answers · asked by turtle boy 1 in Business & Finance ➔ Renting & Real Estate
It depends on the exact place you are in with the offer/counteroffer. The key to answering your question, is that a seller can consider all the offers they want and legally accept any one of them, as long as they don't already have a contract with you. And the only way they will have a contract with you is if both of you have signed the contract. (Verbal contracts ARE legally binding, but hard to enforce due to lack of documentation.)
Furthermore, a counteroffer rejects your original offer, and becomes a new offer from them to you. If you are at this stage, you have no contract, and they can enter into a sales contract with someone else. But if you have signed their counteroffer, then you do have a contract, and they CANNOT enter into a contract with anyone else.
2006-06-09 08:41:31 · answer #1 · answered by Thunderbird Clan 1 · 0⤊ 1⤋
This depends on whether you are actually under a signed contract or not, and how long the contract is good for. If you are under contract for say 30 days..they can continue to show the home and accept offers, but they cannot be put into effect until your contract due date has expired. This is as according to WV State lending laws, check with the Texas Division of Banking to see what the laws are in your area.
2006-06-09 13:55:47 · answer #2 · answered by Mustang Sally 4 · 0⤊ 0⤋
It depends entirely on the structure of the offer/counter offer, and whose "turn" it is in the negotiations. If you make an offer, the seller has no obligation to accept it and can consider other more attractive offers. However, if the seller makes you a counter-offer, he has to wait until you either respond or the time limit of his counter-offer expires (usually pretty quickly).
2006-06-09 14:14:07 · answer #3 · answered by Libertarians 4 real choice 3 · 0⤊ 0⤋
When a home is listed for a certain price, that price isn't a final price as you may know. It's simply an invitation to bid. Speaking from the State of Florida, until the contract is fully executed and delivered to you there isn't any contract (in most cases)(verbal agreements, however dangerous, can be enforceable under certain conditions). Otherwise the "Seller" can discuss offers with any potential "Buyer" of the property.
2006-06-09 14:02:15 · answer #4 · answered by realtyocala 1 · 0⤊ 0⤋
yes the owner will take all offers
2006-06-09 15:14:59 · answer #5 · answered by bigklb10 2 · 0⤊ 0⤋
yes , unless youve done accepted and agreed to the offer.i think evn then its ok as long as you havent closed on it yet!
2006-06-09 13:55:40 · answer #6 · answered by cyndi b 5 · 0⤊ 0⤋