We are interested in buying a home from a relocation company. An offer was accepted, but it has been in attorney review for less than 24hrs.

Asked by Mike, Annandale, NJ Sun Oct 21, 2012

Is it true these companies wouldn't accept a higher offer and would just stick with the original offer even though our offer is better?

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5
Diane Glander, Agent, Spring Lake, NJ
Mon Oct 22, 2012
If it's out of attorney review, the relo company has to proceed with the current contract until all contingencies are either met or one party legally walks away. However, if it is still in attorney review, you can have your agent find out who the sellers' attorney is and send the contract to him/her. Worst case, you can be considered a back up contract in case the first one falls through.
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0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Mon Oct 22, 2012
It will be up to the seller/relocation company to make the decision. During attorney review either party can exit the transaction without recourse to the other. I generally remind my sellers to be at least careful in bouncing the first accepted offer, because if they do and something goes wrong with the 2nd, the first party may be so miffed they may not reconsider as a matter of principle.

It's just business - and so yes, no reason not to submity your offer in writing - you never know, there may be terms in your offer that swing the deal your way.

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes
Mary Petti, Agent, Edison, NJ
Sun Oct 21, 2012
I would try to make the offer anyway.....legally your offer (in writing) must be presented to the owners/relo company, especially if it' still in attorney review. Can't hurt.
0 votes
Andrew Tisel…, Agent, clifton, NJ
Sun Oct 21, 2012
typically it is REO companies not relocation companies that do not accept other offers once they have accepted one.
0 votes
Diane Vanvli…, , New Jersey
Sun Oct 21, 2012
Once it is out of attorney review, normanlly the home is yours unless the are unusual circumstances...Like structural problems etc.....
Check with your attorney...good luck

Diane
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