Home Selling in Morris Park>Question Details

Empireboss,  in Morris Park, Bronx, NY

does NY law say that a sellers agent must disclose both that there is another bid on a house prior to the second...and then at the withdrawl of the

Asked by Empireboss, Morris Park, Bronx, NY Sun Apr 4, 2010

first offer when they found out that there is a bid well over list price? Then to tell that second higher bidder that this first bid was withdrawn after their bid was entered and a day given to allow the second high bidder to withdraw and rewrite the bid for a lower amount?

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5
A "Seller's Agent" must disclose all offers on a home, and if the first buyer of the home withdraws, the second highest bid takes precedence, unless, a new highest and best bidding is re-issued prior to accepting another bid.

Sorry but some agents don't disclose.
A seller's agent must disclose all bids on a home, and if the first buyer of the home withdraws, the second highest bid takes precedence, unless, a new highest and best bidding is re-issued prior to accepting another bid.

I hope this helps, and wish you the best of luck.



Best of luck.

Bruce McIntyre
0 votes Thank Flag Link Thu Jan 13, 2011
A "Seller's Agent" must disclose all offers on a home, and if the first buyer of the home withdraws, the second highest bid takes precedence, unless, a new highest and best bidding is re-issued prior to accepting another bid.

Sorry but some agents don't disclose.

Best of luck.

Millie
Exit Realty
0 votes Thank Flag Link Thu Jan 13, 2011
Yes, the listing agent should let it be known if other offers exist and or if an offer has acceptance.
0 votes Thank Flag Link Mon Apr 5, 2010
Dear Empireboss,

A seller's agent is bound to disclose any and all bids. But some agents do not like to disclose this information and will just tell a client that there is another bid on the specific property and accept various offers until until the sellers acepts one.

Good luck.
0 votes Thank Flag Link Mon Apr 5, 2010
A seller's agent must disclose all bids on a home, and if the first buyer of the home withdraws, the second highest bid takes precedence, unless, a new highest and best bidding is re-issued prior to accepting another bid.

I hope this helps, and wish you the best of luck.
0 votes Thank Flag Link Sun Apr 4, 2010
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