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Tlcsam227@ao…, Home Buyer in Floral City, FL

Can seller take a second contract on a house when the first contract has not been cancelled?

Asked by Tlcsam227@aol.com, Floral City, FL Thu Nov 18, 2010

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5
A seller can keep a second offer in waiting, not a contract, a contract would mean that the seller has signed and gone into the sales process with that party, which can not be done if there is already a signed contract in progress. First contract must play out till completion or until that contract becomes void due to contract requirements not having benn met!
1 vote Thank Flag Link Fri Dec 3, 2010
Hi Sam,

If you're talking about a Short Sale, the addendum allows the Seller and Buyer to easily cancel under certain situations. Read the short sale addendum carefully.

If this is a regular sale then it all depends on the original contract whether or not the Seller can enter into a new contract without getting a cancellation on the first.

Ask your Realtor to contact the Florida Assn of Realtors Legal Hotline and they can answer legal questions for your Realtor. If you do not have a Realtor then you need to contact an attorney.

Hope this helps.
Alma
1 vote Thank Flag Link Fri Nov 19, 2010
Unless there is a special disclosure provided to the buyer that the seller can accept and negotiate other offers at any time regardless in which order they were received, the seller should only accept a second one as a back up offer.
0 votes Thank Flag Link Thu Nov 18, 2010
It will not be a second contract (since it will not be signed or executed), the seller must make it clear that it is a back -up offer, there is no problem.

Tony Vega
Charles Rutenberg Realty
0 votes Thank Flag Link Thu Nov 18, 2010
They could potentially take a back up offer. Short sales and foreclosures may be handled a little differently.
0 votes Thank Flag Link Thu Nov 18, 2010
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