If I have offered the full price for a listed home, must the seller accept my offer?
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If I have offered the full price for a listed home, must the seller accept my offer?
Asked on March 24, 2011 under Real Estate Law, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
No, they do not have to accept any offer, higher or lower than the listing offer. In fact, the seller can pull it off the market at any time (so ling as it does not violate their contract with a broker or agent). The theory behind selling a home is the freedom to contract and behind the freedom to contract is the theory that buyers and sellers can negotiate freely as to the sale of their home. Sometimes there are many offers made on a house and a bidding war breaks out for the same property. The seller then is not bound to accept the highest offer either. Maybe they like the people who have made the second highest offer better or they are in better financial shape to acquire a mortgage. It is all a crap shoot. But good luck.
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