what is the order which sellers must view offers?
The buyers agent is required to present the offer as soon as they can. Same with the Seller's agent (listing agent) they are supposed to present offer to seller as soon as they can. Seller can look at the offer, ponder the offer, some wait out the expiration period for a better offer before they counter or reject your offer. The seller can even accept another offer that is lower than yours, Its up to the seller, and the listing agent represents seller, buyers agent represents you. Seller needs no reason behind accepting an offer. In most cases the cash or best offer wins. Also with the bank owned rules seem not apply, bank believes since they are out of state, state laws do not apply. What I have seen many times is that someone puts in an offer let's say at 150K, bank rejects it, list is 160K, no actual counter, they say highest and best, you resubmit at 154K. They reject it. Then you see the house sold for 140K a month later. Really. WTF you think. What happened?? They may have been waiting for a cash buyer or their bottom line changed, they needed to move it off their books that next week, who knows but it happens.
what is the order which sellers must accept offers.- no order in which they must accept seller does not have to accept, They are the boss.
Call me to view your future home.
Just curious...were you the first offer or second?? I once showed a home to my buyer who fell in love with it as soon as she saw it....so much so that when I called the listing agent and he told me that he had just accepted an offer, and the seller had agreed to accept only back up offers.....my buyer put in an offer $5000 over asking price....pretty unheard of in this market. Again, the listing agent told me that the seller still was going to stick with the first offer. It made me a bit suspicious that maybe the listing agent also had the buyer and maybe my offer was never presented (hate to think that way, but unfortunately, there are some that would do that). My buyer chose to contact the seller herself (I'm not allowed, but couldn't stop the buyer from doing it). Sure enough....the seller was very remorseful and said she had recieved the other offer and offered to only accept backup, and even though she really wanted to take our offer, she felt she needed to keep her word to the first buyer. We actually respected that.....in a business sense, she could've had $10K more in her pocket had she taken our offer....but she was a woman of her word. Not everyone is.....I guess my point is that people have their own reasons for taking a specific offer....sometimes it's personal, and sometimes it'sall about the money. Good luck....hope you're next experience is better. Just remember....when you're dealing with real people, anything can happen. And it's usually not something you or your realtor can always control.
To FSBOsucess: While I appreciate your response, please read the scenario and answer the scenario only. You concluded that I would have been the low offer without any knowledge, only your presumptions. In fact, my offer in the latest instance was higher. I believe that the selling agent did what is known as "pocketing an offer" due to the how the transaction took place.
Maybe states are different, but I can't believe any seller would be forced in a normal selling situation to have to take an offer. Trust me, if you were the seller, you would be singing a different tune.