Home Buying in Georgia>Question Details

Linda Lawson, Home Buyer in Tarpon Springs, FL

Thanks to all who answered my question. I still believe that when a buyer offers the asking price for a home

Asked by Linda Lawson, Tarpon Springs, FL Fri Aug 8, 2008

for sale , the seller should have to take it. Can you imagine buying a car this way? A car is offered for $25,000. but the dealer won't sell it to you until he gets more offers in hopes of finding a buyer who will pay more. If a buyer offers the asking price and meets all the right criteria then the seller should be required to sell without trying to gouge more money out of someone. Maybe this is why the Real Estate market is doing so badly?

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Sellers because of the market worry if a full price offer comes in too quickly. Real estate is now a commodity and prices fluctuate. If the seller has represenation that looks at the whole transaction and the profit or loss of their next move then their should be no problem. This is the biggest challenge, if the seller has to move and their net worth is greater as a new buyer then it's no brainer.
0 votes Thank Flag Link Sun Aug 24, 2008
It would be difficult to force a seller to accept a contract simply because of the offer price. A sale contract encompasses much more than the price. The terms and conditions of one contract may cause a seller to be more inclined to accept it over another offer that has a higher sales price.
0 votes Thank Flag Link Fri Aug 8, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
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