if an agent says my offer is accepted, can another offer be accepted in less than an hour? Is the agent trying to pad his pockets?

Asked by Vebasrocco, Holden, MO Wed May 11, 2011

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Dale Weir, Agent, Chesterfield, MO
Wed May 11, 2011
if you got a written signed response its legal. If all youhad was a verbal then you don't really have an accepted contract

if its a bank selling, they sometimes send written acceptance then accepted higher offer and kick you out
Web Reference:  http://www.yourstlhome.com
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Scott Godzyk, Agent, Manchester, NH
Wed May 11, 2011
Saying it accepted and being accepted by teh seller signing it is 2 dofferent things, often times an agent calls teh selelr, says they have an offer, tells them about it, teh sellers says great ill take, agent then makes appointment to come over to get signtaures, agent calls buyer tells them seller accepted, then another offer comes in higher and it happens all over again. Without the selelrs signature, it is not accepted unfortanately.
Web Reference:  http://www.ScottSellsNH.com
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Gita Bantwal, Agent, Jamison, PA
Wed May 11, 2011
Are you working with your own agent or the listing agent ? Did your agent actually receive the agreement of sale signed by the sellers ? Or was it just miscommunication?
Was it a short sale ?
Web Reference:  http://www.gitabantwal.com
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Brian Rayl, Agent, Dallas, TX
Wed May 11, 2011
Depends on what the definition of "accepted" is.

By "accepted" do you mean that they received the contract? Or by "accepted" do you mean that you received a signed, executed contract?

If you received a signed, executed contract, then no they cannot "accept" another offer in less than an hour. If you mean they received the contract, then the sellers can "accept" any number of offers. Depending on the circumstances, it is not unusual to have a "Multiple Offer Situation," meaning that they have accepted several offers and then they turn around and request from all of the offers their "Highest and Best" offer by a certain deadline.

I hope this answers your question. If there are other details here that you did not mention, feel free to follow up and I'm sure you will get some help with your question.

It's more than real estate. It's RAYL-Estate!

Brian Rayl, REALTOR®, e-PRO, SFR
Keller Williams Elite
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