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Maureen, Other/Just Looking in 94301

If a property has multiple offers and the seller accepts 1 of the offers is the seller then legally bound to

Asked by Maureen, 94301 Wed Aug 13, 2008

show the buyers of the accepted offer the other multiple offers after the contract has been signed and agreed upon by buyer and seller?

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I feel that the other offers are none of the buyer's business, however, there are situations when (for countered ,over offer, trust issues) that the back page of the offer can be provided as proof that there was another offer(s). I would only suggest this in a challenge situation, not as a usual practice. If there WERE other offers, this practice will keep the transaction moving smoothly with trust.
1 vote Thank Flag Link Wed Aug 13, 2008
No consider confidential information. In some instances the seller could be held liable for release information.
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1 vote Thank Flag Link Wed Aug 13, 2008
I do not believe that they have to legally show you. We did have a multiple bid situation on a house and said that we would go $1k more than the highest bidder up to X dollars. In the contract I believe our agent added some verbage to say sellers would have to provide proof of the next highest offer. Didn't get the house, so don't know for sure. We also had multiple bids on the house we sold and did not have to disclose the offer that we did not accept.
1 vote Thank Flag Link Wed Aug 13, 2008
Unfortanately no, they do not have to disclose what the excepted and what they didnt. When evaluating an offer they are looking at more than just price. Such as closing date, terms, contingincies, amount of deposit, financing vs cash buyers, inspections and such. Unfortanately you will have to wait until it shows up in public records after the sale.
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1 vote Thank Flag Link Wed Aug 13, 2008
Only the parties involved in the contract have a right to that content without express written approval of all parties to the contract. That is my opinion and at should be verified by an attorney as it is a legal question.

Jackie Noseworthy
Broker Associate
Coldwell Banker Chicora
843-251-5599 Direct Cell
843-233-8000 Ext 213 Office
843-233-8900 Fax
jackienoseworthy@chicora.net
0 votes Thank Flag Link Wed Aug 13, 2008
Isn’t it great that we are again discussing multiple offers on a house? Here is the deal. That is confidential information. Not only is it not permissible to show, but the broker could be held liable if he/she did show it.

You can put in a back up offer, but the two offers are mutually exclusive of each other.

I hope this helps!

Gary De Pury
Broker~Owner
Bay Vista Realty & Investments, Inc.
Tampa, Florida
Chairman, Communications Committee
Greater Tampa Association of REALTORS
Director, Florida Association of REALTORS
0 votes Thank Flag Link Wed Aug 13, 2008
Not at all. That information is for the Seller and the Buyer that submitted the offer. While the Buyer who was accepted maybe curious what the other offers were, the reality is it is none of their business.
0 votes Thank Flag Link Wed Aug 13, 2008
No. Not only is the seller not required to show the successful buyer the other offers, but that's seldom if ever done. And, frankly, it's really none of the buyer's business.

Further, that could open up multiple cans of worms. I could imagine it leading to the buyer coming back to the seller (maybe after the home inspection) and making further requests, based upon a close analysis of what other buyers had requested or had offered.

If you're the home seller (as you've identified yourself) and you're being asked to show the other offers...well, ask your Realtor. If my client were in your position, based on what you've presented here, I'd advise them not to.

Hope that helps.
0 votes Thank Flag Link Wed Aug 13, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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