Agent

Full-price offer may not seal real estate deal

Asking for more still within seller's legal rights

DEAR BOB: Suppose a prospective home buyer makes a full-price, all-cash purchase offer? Does the seller have to accept? I ask because a friend recently made such an offer and was told by the listing agent the seller wants more than the asking price. Is this legal? – Chuck D. DEAR CHUCK: Unfortunately for your friend, a home seller does not have to accept a full-price, all-cash, no-contingency purchase offer even at the full asking price specified in the local MLS (multiple listing service) listing. Purchase Bob Bruss reports online. The reason is the listing is a contract between the home seller and the listing real estate agent. A prospective buyer is not a party to that contract and cannot enforce it. However, if a buyer makes a full-price, all-cash, no-contingency purchase offer, which the seller rejects, the listing agent is then entitled to a full sales commission although no sale takes place. But most listing agents won't sue a seller because word spreads fast in the re...

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