Can Realtor tell you other offers?
Monty’s Answer: Real estate agents are not allowed by law to share your offer with other buyers or any other details of your proposal with anyone except the seller. … The seller can share your offer with other potential buyers. This type of clause is often called a price escalator or acceleration clause.
Can a Realtor Hide offers?
Every state’s laws are different, but generally, if the seller has instructed his agent in writing to withhold certain kinds of offers, then the agent won’t present those offers.
Can a seller accept another offer while contingent?
“Purchase agreements are legally binding agreements, and sellers need to understand their commitments and their ability to get out of the contract.” … If the buyer fails to meet these contingencies by a designated date, the seller can cancel the agreement and then accept another offer.
Do sellers always pick the highest offer?
When it comes to buying a house, the highest offer always gets the house — right? Surprise! The answer is often “no.” Conventional wisdom might suggest that during negotiations, especially in a multiple-offer situation, the buyer who throws the most money at the seller will snag the house.
Do Realtors lie about showings?
Why they tell it:
Technically, this statement is true—at least in most cases. If no one knows that a house is on the market, then no one can come to showings. If no one comes to showings, you can’t get offers. If you don’t get offers, you can’t sell your house.
Is it illegal for a Realtor to lie about other offers?
But for agents in NSW, this is completely untrue. 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.
Why do Realtors not want buyers and sellers to meet?
A real estate agent stops that. It’s intimidating to have the sellers in the home when buyers walk through it. They may not feel as comfortable looking in all the areas they want to look. When the sellers aren’t present, buyers feel more comfortable looking around and see everything the home offers.
Can a seller change their mind after accepting an offer?
If the seller changes her mind after accepting an offer, especially if the terms of the listing agreement have been met, she usually still owes the broker a commission. … Once the offer is accepted, the contract often binds both parties so no one can change their mind without the consent of the other party.
Can you still look at a house if it is contingent?
If a home’s status is Contingent Continue to Show, the seller has accepted an offer, but there are multiple contingencies they must address. At this time, the buyer is working to complete these contingencies, but other buyers can continue to visit the listing and submit offers.
Can I still put an offer on a contingent House?
Owners whose home is in contingent status can accept a backup offer, and that offer will have precedence if the initial deal does not go through, so if you like a contingent property, it makes sense for you to make an offer on the listing so that you are in position to buy if something goes wrong with that transaction.