Home Selling in 80124>Question Details

Angelabarney, Home Buyer in Littleton, CO

Our offer has been accepted. The agent says the people who have previously viewed can still make an offer. Is that true?

Asked by Angelabarney, Littleton, CO Mon Sep 23, 2013

Help the community by answering this question:


Hi Angela, Congratulations on getting your house under contract! Yes, other buyers can still submit offers for your review, but they would be in Back up position, in case the first contract who have executed, should fail due to Inspection items, Appraisal or Loan conditions. Hope this is helpful, Cheers, Jan
1 vote Thank Flag Link Fri Sep 27, 2013
The Sellers can hold other contracts in Back up position in case your fully executed offer should fail for any of the reasons I listed above.I thought you were the seller when I first read your question! Congrats on finding your new home and hope the sale is successful for you! Cheers, Jan
Flag Fri Sep 27, 2013
Hi Angela, Did you have your inspection this past week? If so, how did it go?
0 votes Thank Flag Link Sun Sep 29, 2013
Yes, all offers must be submitted to the seller up to closing. Whether or not a seller can accept another offer will depend on the terms of your offer. Your real estate agent is your best resource to explain the contract and timeline with you.

0 votes Thank Flag Link Sun Sep 29, 2013
Hi Angel,

Jan is right. The fact that someone else can put in a backup offer should not affect your signed offer. Any offer that comes in 'must' be presented to the seller by the listing agent. Nothing will happen in most cases unless you decide to step aside due to one of the many buyer contingencies in the contract. Contratulations on finding a home you like in this market. There is a lot of competition these days. One other thing, trust your Buyer's Agent,, I am sure he won't give you bad advice. All the best.

Robert McGuire
Your Castle Real Estate
0 votes Thank Flag Link Sat Sep 28, 2013
The Buyer's Agent could be a "She" :)
Cheers Robert,
Flag Sun Sep 29, 2013
Do you have a finance contingency with a 24 hr kickout ?
0 votes Thank Flag Link Fri Sep 27, 2013
You are under contract if the seller signs and accepts your offer. They can look at other offers but have to perform on the contract they execute. Consult with your realtor, they should be able to answer any questions about your transaction.
0 votes Thank Flag Link Tue Sep 24, 2013
Yes they can still make an offer, but it would be held in back up position should your contract fall. Yours is still the priority if both parties have signed and the contract is executed.

Julie Reddington
0 votes Thank Flag Link Mon Sep 23, 2013
The answer is yes, but whether any such offers would be considered back up offers only depends on the terms of your contract. I would consult my attorney if I were you. I don't know how things work in Colorado but here a contract is considered 'binding' unless the parties have agreed to allow the seller to entertain other offers, once it is out of the attorney review period. Sometimes if there is a contingency, or on short sales where real estate agents have a continuing obligation to get the best price possible for the bank, the seller can continue to entertain other offers. At that point the person with the current offer has the option of removing the contingency or meeting the new offer. I would strongly suggest you go over such possibilities with your attorney and/or agent.
0 votes Thank Flag Link Mon Sep 23, 2013
Thank you for your advice
Flag Mon Sep 23, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer