Think real estate agent suggested listing price to low, that way it sold quickly. Got an offer for listing price on first day shown. Do I have to accept this offer, when I think I want more for the house.
North Carolina
2006-10-17 15:24:52 · 8 answers · asked by naive 1 in Business & Finance ➔ Renting & Real Estate
I don't think you ever 'have' to accept an offer - it's your house. Why are you listing for lower then you really want? I would decline the offer and advise your agent to immediately up the list price of your home. Then they can let the other agent nkow to inform their client.
2006-10-17 15:27:57 · answer #1 · answered by Rae T 4 · 0⤊ 0⤋
No, you don't have to accept. Counter offer with the price that you want to get. I think your real estate agent was looking for a quick sell by telling you to list low. You should always list what your home is worth.
2006-10-17 15:27:56 · answer #2 · answered by roxy 5 · 0⤊ 0⤋
If you reject it, you may theoretically be liable for the commission, depending upon the contract you signed. I've never heard of someone suing and winning though. Bad business practice.
You always have the right to reject an offer. But I'd be real certain before I rejected or countered a full price offer - it's a good way to lose the best offer you may ever get. Maybe the perfect buyer hit on day one - it happens. I've seen it. It may be underpriced, but research before you do anything. I've also seen sellers blow off the best offer in town.
2006-10-17 16:41:23 · answer #3 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Your listing agreement says that "If a buyer is found you agree to sell your property for a specified amount" Sometimes someone has been looking for a home for a long time then your home hits the market and it is exactly what they wanted so they don't want to lose it. Ask your realtor to see the comparibles so you know your home wasn't priced too low. Or call a realtor in your town and ask what a 4bd 2 bath homes in your area are going for. you can also get on most realtor web sites and have access to your "Multiple listing Service" and put in a search for properties just like yours and see what pops up. If you need help E-Mail me and I will do it for you. JimsExit@yahoo.com
2006-10-17 16:29:48 · answer #4 · answered by ? 2 · 0⤊ 0⤋
Why, in Gods, name didn't you list it at what you wanted too. Sounds to me like the real estate agent did her job. No, you don't have to accept it but if you look at your listing agreement there is most likely a clause in there something to the effect of if a buyer is found who is ready, willing and able to purchase at your list price then you will owe a commission even if you don't take it.
2006-10-17 15:53:46 · answer #5 · answered by Karen R 3 · 1⤊ 0⤋
Let me see if I got this straight.....you listed your house at a specific price, you got an offer the very first day of showing at your asking price and now you think you don't want to accept it. I can't tell you how lucky I feel that I haven't had to deal with a seller like you. Don't be a jerk.
2006-10-17 15:43:40 · answer #6 · answered by porkchop 5 · 2⤊ 0⤋
I would think that you do not have to accept any offer no matter what the asking price is. At this point you have no legal obligation with the buyers whatsoever until you accept their offer. You could always counter offer.
2006-10-17 15:32:14 · answer #7 · answered by walkerhound03 5 · 0⤊ 0⤋
Ask another realtor if the asking price was too low. If they don't think so, thank your lucky stars you got asking price.
You never have to accept an offer. If the asking was too low, reject the offer and have your realtor list it higher immediately.
2006-10-17 16:17:23 · answer #8 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋