Open Houses After Accepted Offer
My offer was recently accepted and we’ve begun the process of going into contract. The seller is having two open houses for the property on both Saturday and Sunday. Is it normal for a seller who has accepted an offer to continue showing the property? Two open houses seems aggressive – my fear is that…
My offer was recently accepted and we’ve begun the process of going into contract. The seller is having two open houses for the property on both Saturday and Sunday. Is it normal for a seller who has accepted an offer to continue showing the property? Two open houses seems aggressive – my fear is that they’re hoping that they will get either a higher offer or an offer that is close to my final accepted bid so that they can have a bidding war. Do I have any rights before we enter contract because of the verbal offer and acceptance or do I just have to cross my fingers and hope a higher offer does not come in before we go into contract? Would appreciate any insight, especially from experience.
Thanks all!
I’ve had 2 accepted offers that fell through. Luckily for me they both happened before the October market collapse. In both cases, the sellers found better offers after they accepted mine. I wouldn’t worry about a bidding war in this market.
Cross your fingers and hope they get a lower offer…
“Half, I am talking about seller signing more than one.”
Oh. I’d say illegal and/or very complicated. But it usually doesn’t work that way. The seller originates the contract unsigned.
***Bid half off peak comps***
Did you schedule inspection yet? On your side as the buyer the best way to move things along quickly is to have an inspector lined up already and schedule him to see the house quick. If you delay inspection that’s simply more time for the seller to show the house to other buyers. A buyer can give a deadline for a signed contract following inspection. Thing is if you say you’ll walk away if you don’t get a signed contract within 24 or 48 hours then you do need to follow through on that threat. So there’s risk you wouldn’t get the house. That’s how I got my first house on which there were several offers and I wanted to avoid a lot of back and forth in a bidding war. Mine was the best offer and I was willing to buy the house as-is, so I said take it or leave it, you have 24 hours to decide or I walk. It’s nervewracking but in certain situations it can be the thing to do.
well, you free to take your offer from the table as well before you put your signature on the contract.
You can rush the contract or you can offer a few K more if somebody else will give better offer. But usually houses are on the market for long time and everybody who possibly wanted to see it already seen it.
When our offer was accepted and broker left the “For Sale” on the house, my wife was screaming. But it did not change a thing.
Think back to first-year contracts…or pull out your BAR/BRI review
If you really love this house, sign the contract asap and push your attornet to get it back to the seller’s attorney!
Good luck
Thanks all – my lawyer is saying the same thing. First-time buyer and I think I got way too excited about getting an accepted offer. Just need to keep looking until we go into K. Thanks all!
Half, I am talking about seller signing more than one.