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Seller Calls Shots
December 10th, 2014 10:46 AM

Sellers should be advised by listing agents to always treat all parties in a transaction fairly, even though decisions about disclosing terms belong to the seller.  In any multiple-offer situation, it is the seller, not the listing agent, who calls the shots, but the listing agent should give their seller advice about negotiating multiple offers.

Price is not always the deciding factor in acceptance of any offer.  Some contracts could have a financing contingency or a contingency on the sale of another home.   Some may require major repair costs or the purchase of home warranties; some may expect closing costs to by paid by the seller.   There are various factors to consider, and it can be confusing to a seller.

All offers must be presented and comparisons made as to which one best fits the seller's criteria and needs.   It is then the seller who decides whether or not to disclose to other agents, through the listing agent, the existence of multiple offers on the property. This is sometimes done to allow for counteroffers to be made.   

With existing home inventory still lower than in the past, a home that is in a great location, priced properly for the market, and in excellent condition, may likely give a seller multiple choices in a buyer.  Be prepared to make a wise decision.

Posted in:Real Estate
Posted by Barbara Doeringer on December 10th, 2014 10:46 AMPost a Comment

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