- Do you have to disclose multiple offers?
- Can you ask for proof of another offer on a house?
- How do you deal with multiple offers on real estate?
- What happens when there are multiple offers on a house?
- Can a Realtor lie about multiple offers?
- Can a seller look at multiple offers?
- Should I offer less than the asking price?
- How do you know if an offer is real?
- How low is a cheeky offer on a house?
Yes, they can lie.
Realtors—a subset of real estate agents—are forbidden by their Code of Ethics from lying, though some do.
Not many, but some.
Usually, though, it’s not an outright lie.
Do you have to disclose multiple offers?
Standard of Practice of the REALTOR® Code of Ethics states that the existence of offers should only be disclosed with the seller’s consent. The seller alone determines whether one or more of the prospective buyers will be informed that there are multiple offers.
Can you ask for proof of another offer on a house?
Even in today’s market, it is not uncommon to have to compete with another buyer for a home. Nothing can be more unnerving to a home buyer than having to negotiate against these faceless competitors. Can you get proof that these competing offers are legit? In most cases the answer is no.
How do you deal with multiple offers on real estate?
Handling Multiple Offers
- Go back to all offers with a “best and final”. You will be asking each party to come back with their highest bid along with their best terms.
- Accept one of the offers on the table.
- Negotiate with one or more of the offers but exclude some on the table.
- Reject all of the offers.
What happens when there are multiple offers on a house?
When there are multiple offers, the seller typically takes one of three actions: Accepts the most favorable offer. Counters all offers to give everyone a chance to come back with a better bid in an effort to get the best price and terms. Counters the offer closest to the price and terms the seller’s seeking.
Can a Realtor lie about multiple offers?
As everyone else has said, yes they can lie about other offers but if you have an escalation clause that is being used, they need to present the other offer if requested.
Can a seller look at multiple offers?
You can write the best offer in the world but a competent listing agent is likely to advise the seller to counter all the multiple offers, even in a buyer’s market. Sellers don’t have to make identical counteroffers in some states. The seller also retains the right to choose or reject accepted multiple counteroffers.
Should I offer less than the asking price?
If there are issues with the property or the price is too high, or both, you can usually underbid and negotiate with the sellers. If the price has remained the same on a listing for more than two weeks, we feel it is okay for our buyers to offer a price that is somewhat less than asking, usually around 3 to 5%.
How do you know if an offer is real?
- If there is any demand for money under any context (such as Administrative expenses, Service Charges, Documentation expenses etc.), it could be a fake offer.
- If the offer has been received and you do not recall making any application or not appearing for any interviews, the offer is a fake one.
How low is a cheeky offer on a house?
A cheeky offer would be 10% under. But they’re more likely to accept if you offer your max minus perhaps £5k so you have room to negotiate. Totally worth putting in any offer as long as you’re prepared for them to say no or not welcome any future bids from you.