Agent

Pros, cons of multiple counteroffers

State laws vary; owners risk losing buyers
Published on Jun 14, 2004

Suppose you're selling and are lucky enough to receive more than one offer. Then imagine that you're even more fortunate. All of the offers great but are so similar that you can't decide which one to pick. One option is to accept none of the offers and ask the parties to resubmit their offers. This can be off-putting, however. After spending time and effort to put an offer together, most buyers want to hear a more definitive response back from the seller. Another option is to use a multiple counteroffer. This allows you to counter more than one offer at a time. But, multiple counteroffers need to be done very carefully. Otherwise you might end up selling your home to more than one buyer. State laws and local custom differ from place to place regarding the sale of residential real estate; so be sure to check with your real estate professional before issuing a multiple counteroffer. The multiple counteroffer used by the California Association of Realtors includes a disclosure that puts...

Comments