Can a seller accept 3 offers at one time on same property?

Asked by LJ, Rochester, NY Sun Mar 6, 2011

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15
Dallas Texas, Agent, Dallas, TN
Sun Jul 24, 2011
It all depends on how all offers are submitted. Confer your questions to your buyers agent

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Sun Jul 24, 2011
A seller can receive and accept several offers at the same time, but sell to only one.
Based on the merit of the offer and it's rankings in the order the other offers can be in
Back up situation.

Good luck.
Perry

http://www.ruthandperry.com
0 votes
Sid Atrouni, Agent, Rochester, NY
Mon Mar 7, 2011
I agree with Michael and Terri, multiple offers can happen but you can expect one offer at a time.
0 votes
Gail Gladsto…, Agent, 11743, NY
Mon Mar 7, 2011
Until you are in contract, there is no sale.
Web Reference:  http://GailGladstone.com
0 votes
Michael Noce, , Rochester, NY
Sun Mar 6, 2011
The seller can accept more that one offer, subject to the non performance of another offer.
Web Reference:  http://michaelnoce.com
0 votes
Michael Noce, , Rochester, NY
Sun Mar 6, 2011
The seller can accept more that one offer, subject to the non performance of another offer.
Web Reference:  http://michaelnoce.com
0 votes
Terri Granger, Agent, Rochester, NY
Sun Mar 6, 2011
The seller can accept more that one offer, subject to the non performance of another offer. Also, if there is a contingent offer on the property, the seller can accept another offer. As I tell my clients, you need to make your best and highest offer, you may not get another opportunity and you don't want to have regrets that you didn't get the home that you wanted.
0 votes
Christopher…, Agent, Tarrytown, NY
Sun Mar 6, 2011
Hi, I have had a seller accept two offers at the same time and whoever signed the contracts first got the home. Obviously the home is going to sell to only on person but this is a game that some people play. I don't necessarily agree with it. I would rather the seller keep the other offers as backup because if the buyer gets upset at the sellers actions they might walk. If something happens to the final buyer and the backups walk, then the seller has to start all over again.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
Web Reference:  http://raveis.com/chrispagli
0 votes
Diana Shaw, , Rochester, NY
Sun Mar 6, 2011
The seller can receive several offers on the property. He can obviously only accept one. When several offers are received, the realtor (listing agent) is to notify all real estate agents that submitted their offers to advise their clients that there are multiple offers on the property and for the buyer to resubmit their highest and best offer. This is done usually within 24 hours. To make your offer stand out as being the highest and best offer you would need to adjust the price, waive an engineers inspection if you are confident enough in the property or have a engineers inspection for your buyers own piece of mind not making it contingent on the sale and if your buyer could pay cash for the property is always a good thing. Also increasing the amount of the earnest money deposit are options to consider.

Wendy Cunningham
Remax Plus
0 votes
Phil Rotondo, Agent, Melbourne, FL
Sun Mar 6, 2011
You can accept one in primary position and the remaining would be backups to the primary contract
Web Reference:  http://www.321property.com
0 votes
John Juarez, Agent, Fremont, CA
Sun Mar 6, 2011
The seller only can sell the house once, so how can the seller accept more than one offer? A seller can accept more than offer but they have to be in line. In other words, if first in line does not perform, 2nd in line gets an opportunity to buy the property. If 2nd does not perform, it goes to 3rd. Except for first in line, the offers are back-up offers and the obligation of the seller to sell the house to one of these buyers is contingent on the failure of the preceding buyer(s) to perform. If the first buyer performs the others are out of luck. This is a short version and there is more detail than I have provided here.
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Mar 6, 2011
Yes with back ups I do it all the time

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Reinhardt Br…, Agent, Pittsford, NY
Sun Mar 6, 2011
Yes, as long as they are accepted in sequence. This means that offer #1 is accepted subject to certain terms & conditions. If #1 doesn't perform, seller may take # 2 and so on.

Reinhardt Brucker - Realtor (585) 317-4444
Realty USA
Rochester NY
0 votes
Voices Member, , Cornelius, NC
Sun Mar 6, 2011
Can only accept one offer but try to use the other 2 as backup offers.
0 votes
Terri Vellios, Agent, Campbell, CA
Sun Mar 6, 2011
They can review and accept. But they only have one property to sell. So what they would probably do is accept with a condition. Perhaps it's a short sale and the condition is subject to bank approval.

Check with your agent since they know the details of your transaction.
Web Reference:  http://terrivellios.com
0 votes
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