NMLS # 6395
Financing Kentucky One Home at a Time
Listing agents cover their bases by seeking backup offers and I encourage buyers to do the same. Keep looking until you get yourself a contract.
Best of luck.
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In the market today, when the Seller accepts an offer, it is usually tagged in the MLS as "looking for backups" meaning that until all of the contingencies are removed (ie: inspections, loan, appraisal, title, etc.), that the Seller's agent may look for back up offers to have in place in case the current accepted offer falls through.
It is very common for Buyers to back out of an offer for the simplest things...the property needs too much work or they have an issue with the loan or appraisal.
It is in the Seller's best interest to have back up offers in place. This does not necessarily mean that the back up offer will be negotiated...it's usually just placed on file and in the case that the current Buyer backs out, then they would go to the 1st back up offer and negotiate it.
All the best,
Kat Becker, Realtor
Estates, Residential, Commercial
Prudential California Realty
There is no acceptance of an offer until all parties have signed the contract. In real estate, everything has to be in writing, not verbal. So, until you have a signed contract, the seller may have instructed the seller's agent to continue seeking other offers - which the seller's agent has to do (is instructed to do so by their client). Now, if you have a contract signed by all parties, it doesn't really matter what the seller's agent does because you have a legally binding contract.