Home Buying in Arlington>Question Details

Nikolas, Other/Just Looking in Arlington, MA

My bid for home is @ asking price with no continqencys., Other offer lower. Does realor have right to still carry on negotiations?

Asked by Nikolas, Arlington, MA Mon May 16, 2011

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Tim Cahill’s answer
Hi Nikolas,

You received some very good advice in these answers. They are all correct in stating the Seller's agent is responsible for carrying out the Seller's wishes, even if they want to continue negotiating on asking-price offers.

If you are not already doing so, you would be wise to engage a Buyers Agent on your behalf. It costs you nothing and they can help explain and guide you through all the confusing nuances of buying a home. All of the respondents here would be excellent choices and you won't go wrong contacting any one if them.

Good luck! -Tim
0 votes Thank Flag Link Tue May 17, 2011
BEST ANSWER
Hi, The seller is the one to accept an offer, with the guidance of their agent. Just because one offer is better then the other doesn't mean that buyer will perform or follow through. The seller should always carefully choose and have back-ups in case sonmething changes.

Chris
0 votes Thank Flag Link Mon May 16, 2011
Yes the only person who can accept an offer is the seller. If you find that your offers are better and being ignored try to get in front of the seller to present the offer yourself. When I represent the buyer I make every effort to personally present the offer to the seller, this is not always possible and the listing agent may be your only person willing to listen. In any case always have your Buyer's Agent (or if you are choosing to go it alone) present the offer in person it helps sellers when they can put a face to the offer.
0 votes Thank Flag Link Wed Jan 22, 2014
Its actually the seller who instructs the Realtor during negotiations. But the short answer to your question is yes, they do have the right. There is nothing that binds the seller to either contract until all parties have agreed upon the terms in writing. The sellers have the right to review all offers and accept, reject or counter any of them. They can counter an offer even if it is for full “asking price” because remember, that’s all a list price is. The terms are equally important, such as you mentioned with contingencies. Even performance dates (such as closing date) is subject to rejection or countering.
0 votes Thank Flag Link Mon May 16, 2011
The sellers are the ones who decide whether they accept your offer, counter it, or reject it. The Realtor carries out the wishes of the Seller. It does seem if you gave a wonderful offer it should automatically be accepted, but that is not always the case. Sometimes sellers make emotional decisions; for example they may prefer a family who would live in it vs a contractor who might tear it down. Your Buyers Agent should be helping position you and negotiate for you. Discuss with them how that is going, and why the sellers did not accept your offer. If they signed the other offer it would seem strange and I would want to know why also. But even with an offer at asking price and no contingencies, sellers are not obligated to take accept your offer. Good luck!
0 votes Thank Flag Link Mon May 16, 2011
Yes Nikolas, the Listing Agent/Realtor is not the decision maker in the transaction. They are responsible to the Seller and must act on their behalf. My concern is that you and the other group making offers shouldn't know what the other person is offering (higher/lower, contingencies, financing, etc). Whether an offer is higher or not, the listing agent may request "Highest and Best" from both parties, to garner the final offer from all parties interested in the home. Also, if one of the offerers has submitted a Pre-Approval Letter or the Financing is at 95%, there may be concern over financing. There are many reasons that the negotiations may be continuing. Are you working with a Buyer's Agent and have they offered any insight?
0 votes Thank Flag Link Mon May 16, 2011
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