Just because you placed a bid DOES NOT OBLIGATE seller to you many other factors come into play of accepting which bid

Was property sold at auction? If so that is different matter

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No. Obligations to sell do not exist until a buyer and a seller have both signed a purchase contract. Consult your attorney. :)

The seller is not obligated to sell the home at the list price. There are many factors that could enter into consideration including multiple full price offers, offers above the asking price, contingencies, terms, etc.

Hello, thats a good question. There is more to an acceptable offer than just the list price. The seller and their agent will look at how much closing help and any other concessions you've requested, how soon you can settle,an approved buyer who can settle on scheduled date agreed, and the net profit to the seller.

The listing price is to attract buyers. If the property is priced well and it attracts multiple offers, the seller has to chose only one to sell the property to. There may be a competing offer that is less, but better terms, such as all cash.

If the property is a short sale, the acceptance is subject to bank approval, and the bank may reject the offer even if it is full list price or above.

Carol Bromm, CBR, SRES
Licensed Associate Broker
Prudential Douglas Elliman
631 860-1312

No. At least in most situations. Most listing contracts call for the seller to pay a fee to the agent if they bring an offer that meets the listing requirements, but not to sell the property. However, if they do not sell because of race, religion, family; that is against the law.
If the seller has accepted the offer to purchase; they are required to complete and can be sued for specific preformance.

No but not really enough information to anwer properly but generally a seller is never obligated to accept anything. They probably would providing no higher offers and no unrealistic contingencies.

The reason I hesitate is sometimes, if the home is priced low, in great condition etc. you will get buyers who bid over asking to get the home and start a bidding war. A higher price may not be the best offer depending on closing date, repair allowance, approval from bank. contingencies. The seller will look at the whole picture with their agent but they are never obligated to accept.

A seller doesn't have to sell anything to anyone. Just because you offer the list price doesn't mean they have to sell. Also, there are other factors with an offer. You may offer list price but not meet other criteria the seller is looking for. You may offer list price and someone else may offer more than list price. A seller can reject all offers and just keep the house.