Can a seller decline to waive a condition that makes the terms and
conditions of an accepted offer subject to a lawyer's approval, simply because the seller has received a competing offer?
If the offer is accepted, the buyer's brokerage transfers the deposit to the seller's brokerage trust account according to the
terms of the accepted offer.
Ask for referrals from sellers at the listing presentation, after every offer, at the
time of an accepted offer, and at the close.
Standard of Practice 3 - 6 provides that «REALTORS ® shall disclose the
existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.»
It is possible that MLS rules may not require the
disclosure of an accepted offer in the MLS, but the ethical requirement of Standard of Practice 3 - 6 requiring disclosure still applies to a listing broker when a cooperating broker seeks cooperation on the listing.
They said they couldn't
think of accepting my offer, and I told them goodby, that I was going south and that I hoped to hear from them when they felt in a more reasonable mood.
Sellers are
leery of accepting offers when financing is not a sure thing, and no lender offers more comfort to sellers than JVM.
That makes it clear that, regardless of the
nature of the accepted offer or type of contingency — short sale, buyer's property sale, or other — the offer must be disclosed to brokers when they seek cooperation.
If another offer is submitted, Standard of Practice 1 - 7 requires that you advise the seller to seek legal advice unless the offer is contingent on the
termination of the accepted offer.
He failed to promptly provide his managing broker with the original or a
copy of the accepted offer, which contravened section 3 - 2 (1)(b) of the Council Rules.
The next process that they will help with is that
of accepting offers.
The School of Architecture received 587 applications; 35 students were admitted (6 %) and 24
of those accepted our offer (69 %).
Standard of Practice 3 - 6 provides a well - defined standard on this: «REALTORS ® shall disclose the existence
of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.»
Regardless of what the MLS requires, though, the Code of Ethics Standard of Practice 3 - 6 requires that accepted offers be disclosed: «REALTORS ® shall disclose the existence
of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.»