If the home you offer on has a range they are asking and you offer within that range, do they have to accept

Asked by Amanda Waters, California Thu Apr 16, 2009

your offer?

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Michael Barr…, Agent, Irvine, CA
Fri Apr 17, 2009
Hi there Damanda, . No they do not. They can look at all offer and review all the terms.

If you have any further questions please let me know

Kind Regards
Michael Barron
Realtor/MBA
First Team Real Estate
(714) 552-6817
0 votes
Steven Ornel…, Agent, Fremont, CA
Thu Apr 16, 2009
Hi Damanda6599,

The short answer is no. Price is only one aspect of the offer that is reviewed. There are loan, inspection, and appraisal contingencies that also come into play.

For example, someone offers $50K less than your offer, but is willing to provide the offer without a loan contingency and a 5-day inspections contingency timeline, while you want a 17-day loan contingency and inspections contingency. The first offer may be more appealing to a seller.

Even the type of loan that may be used can be an advantage. If the property is in disrepair, a Seller may not favor an FHA loan due to its required correction of all health and safety issues.

Hope this helps. Best, Steve
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more