Home Buying in Bridgeport>Question Details

Sam, Real Estate Pro in 06484

I made a full price offer on a home in CT. Is the owner obligated to accept the offer?

Asked by Sam, 06484 Sun Aug 28, 2011

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11
No, the owner is not obligated... but, depending on the terms, listing contract, circumstance, etc, the seller may owe a commission to their listing agent for having successfully gotten an offer and terms at the price that the seller was seeking. I rarely hear of a broker arguing for their commission in such a case, but it can happen!
0 votes Thank Flag Link Wed Sep 7, 2011
Not at all, they can send you a counter offer even.
0 votes Thank Flag Link Wed Sep 7, 2011
no, there's more to a contract than just price. Terms and conditions are important too, and reason enough to reject your offer. Sellers want to sell, so you should be able to come to agreement as long as there's not multiple offers, which only one party can prevail. Search 30,000 CT listings on my website RealtyByDan.com
Web Reference: http://realtybydan.com
0 votes Thank Flag Link Sun Sep 4, 2011
No... but unless you have some unwanted contingencies or another higher-than-asking-price offer came in you'd think they'd be thrilled. Hope you put it in via a competent buyer's agent and put an expiration deadline on it! Good luck!
0 votes Thank Flag Link Sun Aug 28, 2011
No. Sellers are never required to accept an offer, even if it's full price. As someone else asked, do you have an contingencies in your offer? Such as that it needs to appraise at the sale price, or that you need to obtain a mortgage for a certain amount, or did you ask for closing costs, did you ask for all satisfactory inspections, etc.? Even if you offered full price, someone else may come along and offer less money but not have any (or less) contingencies in their offer which some sellers think is a "better" offer because they have less things to worry about / deal with. So full price doesn't always guarantee that you will get the house.

Has your agent been in touch with the sellers agent? Your agent may be able to get you some additional information, such as if there is another offer on the table. If there is, you can go back with your best & final offer (which may include taking out contingencies, if you have any in the current offer).

Good luck and I hope you get the house you want!
0 votes Thank Flag Link Sun Aug 28, 2011
Seller is never required to accept any offer....even if it is a full price and all terms the seller wants.
0 votes Thank Flag Link Sun Aug 28, 2011
probably, no;
there are too many details, depending upon how the contract was written.

but you don't want litigation, you want the house.
0 votes Thank Flag Link Sun Aug 28, 2011
Hi Sam,

No. The seller may accept whichever offer they consider to be the best. This can include if the offer asks for closing costs, home warranty, etc.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Sun Aug 28, 2011
Do you have any contingencies? Mortgage, inspections etc? Would you sign a contingency free contract immediately?
Web Reference: http://www.MarionFilley.com
0 votes Thank Flag Link Sun Aug 28, 2011
Unfortunately no, the owner can respond in whatever he/she wishes....
0 votes Thank Flag Link Sun Aug 28, 2011
No...................................
Web Reference: http://www.321property.com
0 votes Thank Flag Link Sun Aug 28, 2011
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