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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/my-realtor-recommends-i-accept-buyer-1s-offer-30682738.aspx

Subject:  Re: House for sale - offer expected Date:  5/14/2013  9:11 AM
Author:  inparadise Number:  125269 of 127236

My Realtor recommends I accept Buyer 1's offer and counter Buyer 2's offer and put it into secondary offer position.

Buyer 1, moving from out of state and with a sale pending will be very motivated and less likely to back out, unless of course the sale of his existing home falls through. Unfortunately, the completion of the sale of his house is not under his control. While it is less usual for things to fall apart at closing, it happens.

I've never heard of countering a second offer when accepting another. That's a new one on me. Did your agent let the 3rd party's agent know that offers are on the table and they need to get theirs in if they want to play? Do you have time to wait for the third counter? Another play is for your agent to let all the parties know that there are multiple contracts in and for them to submit their best final offer. Of course, if you are happy with the bird in hand, who cares how many there are in the bush? These additional plays allow time for those with contracts to back out, which can be done at any time before acceptance on your part.

IP
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