Can agents lie about offers?
As a result, the answer to can a Realtor lie about multiple offers is absolutely yes. It’s also much easier to commit a “white lie” when you aren’t required to disclose exact information. Therefore, it’s entirely plausible that a listing agent might exaggerate the amount of interest they have received.
Can you offer 10 below asking price?
There is no hard-and-fast rule for how low you can go on a home offer, as it depends on whether you’re in a very competitive market . If your area favors buyers, you may want to start around 10% below asking—but if it favors sellers, your initial offer may have to come in well above.
Can a seller reject a full price offer?
Even when buyers submit an offer at the sellers’ asking price and with no contingencies, there’s no guarantee they’ll get the house. Home sellers are free to reject or counter even a contingency-free, full-price offers, and aren’t bound to any terms until they sign a written real estate purchase agreement.
Should you ever offer asking price?
In a sellers’ market, you would be foolish to offer less than the asking price (if that price reflects the current market value of the home). While in a buyers’ market, you have less to lose by offering below asking price. Even if the seller rejects your initial offer, they will likely come back with a counteroffer.
How long does a seller have to accept or decline an offer?
around 48 to 72 hours
Why would a seller not respond to an offer?
Another reason your offer might go unanswered is if it’s too low. “If an offer is far from what a seller expected to receive, many times they won’t respond at all,” says Parnes. Other times you might not hear back for a completely unrelated reason—such as the seller is out of town or on vacation.
Can a seller accept another offer after accepting one?
This is quite a common question when it comes to buyers. But, once an offer has been signed off by the seller, the property is under a legally binding contract with buyer and seller and the owner cannot accept any other offers, even if they are higher.
Why do sellers wait to accept offers?
Another common reason for a delayed response is if the seller already has an accepted offer, and especially if the accepted offer is close to having a contract signed. In this case, the listing agent may not want to bother with showing the property again unless the deal falls through, and may simply be procrastinating.
How do you respond to an offer on a house?
16 May Responding to Home Offers: 4 Tips for SuccessConsider the Buyer’s Situation. If a buyer makes an offer below your asking price, consider the situation from their perspective before deciding how to respond. The Best Buyer Isn’t Always the Highest Offer. Try to Get More Than One Offer. Emphasize What’s Positive.
What is the best offer to make on a house?
Offer to top the highest bid by $1,000 up to a certain amount. This way, you run less chance of being outbid by anyone. Pay for the house in cash. This reduces closing costs and brings closing day faster—which is probably in the seller’s best interest if they’re trying to buy another home at the same time.
Should you accept the first House offer?
Remember, if you set your personal reserve and an offer comes in quickly – but is not quite there – you have some power to negotiate to push the price higher. However if you have been on the market for a while and this is the first offer, you may need to take some time to consider the offer seriously.
What is a cheeky offer on a house?
It’s arguable that any offer of more than 10% discount off the asking price could be considered a cheeky offer. The level of ‘cheek’ depends on who the vendor is and how long their home has been on the market. But so long as you’re prepared for them to say no to your offer, it’s worth taking a punt with a cheeky offer.
How long before an offer is accepted on a house?
All offers must be made in writing, whether that’s through a contract or a letter of offer. The agent then has 48 hours to present this to the vendor, unless the buyer gives the agent a strict deadline of, say, 5pm that day.