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Can a buyer change listing price if a full price offer has been made but not accepted?
No. Only the seller can change the listing price. However, there's nothing to stop a buyer from offering to purchase the property for a higher amount. In fact, this is quite common in what are known as "bidding wars."
When does an agreement to sell become a sale?
An agreement to sell becomes a sale when the buyer accepts the offer and both parties fulfill their respective obligations, typically involving the transfer of ownership and payment. This transition often occurs when the seller delivers the goods or services, and the buyer provides payment. In legal terms, the sale is finalized upon mutual consent and completion of these essential elements.
What is the difference between buyer's market and seller's market?
The difference between a buyers market and a sellers market is all about supply and demand. All about when a market is red hot, and buyers have low interest rates, and they have reason to believe prices are on the rise. This then becomes a seller's market because the buyers have the incentive to get things done. When that is turned around, for example, if there is a negative consumer confidence, if there is some scary news on CNN headline news that's going to drive buyers back out of the market, then suddenly what you have is a buyer's market because the buyers just aren't in the mood to buy, and as a seller, you're looking to work with anybody hoping to produce a reasonable offer.
Advantages of personal selling?
personal selling is an persuasive art of face to face communication to offer product or services as mutual benefit both to the buyer and seller to fit the flexible motive, mood and behavior to make a sale . It clarifies all doubts and build up a trust.
What is the meaning of under offer in house buying?
It means that the vendor already made an offer of the house but the buyer has not finally decided whether to accept it.
Does buyer or seller provide Purchase and Sale Agreement in Real Estate transaction?
In a normal real estate transaction, the buyer or his agent would present the Offer to Purchase to the seller for him to either accept of alter, creating a counter offer. If the offer is acceptable, the seller then signs it, which is referred to as Acceptance.
What happens if the buyer does not accept the counter offer?
If the buyer does not accept the counter offer, the original offer made by the seller remains valid and the negotiation process may continue or the buyer may choose to walk away from the deal.
What does contingent with kick out mean?
"Contingent with kick-out" refers to a real estate agreement where a buyer's offer is accepted, but it includes a contingency that allows the seller to continue marketing the property. If the seller receives a better offer, they can "kick out" the original buyer, typically giving them a specified timeframe to remove their contingency and proceed with the sale. If the original buyer cannot do so within that timeframe, the seller is free to accept the new offer.
What is the purpose of a good faith deposit in a house offer and how does it benefit both the buyer and seller?
A good faith deposit in a house offer shows the buyer's commitment to purchasing the property. It benefits the seller by providing assurance that the buyer is serious about the transaction. For the buyer, it demonstrates their sincerity and helps secure the property while the deal is being finalized.
Does the seller to pay closing cost?
Generally the buyer pays closing costs. Some closing costs legally MUST be paid by the buyer. However, the seller could offer to pay some costs if they want to, or the buyer could ask the seller to pay some of the closing costs. Ultimately the seller has to decide how badly they want to make the sale.
What does a company offer To encourage a buyer to pay before the end of the credit period the seller may offer a?
To encourage a buyer to pay before the end of the credit period, a company may offer a cash discount. This incentive reduces the total amount owed if the buyer settles the invoice early, effectively rewarding prompt payment. This practice can improve the seller's cash flow and reduce the risk of bad debts. Additionally, it can strengthen the buyer-seller relationship by fostering timely transactions.
How is conversation between buyer and refrigerator seller in telephone?
In a telephone conversation between a buyer and a refrigerator seller, the buyer typically starts by inquiring about available models, prices, and features. The seller provides information on the different options, including energy efficiency ratings and warranty details. The buyer may ask about delivery options and financing, while the seller answers questions and may offer promotions. The conversation concludes with the buyer expressing interest in a specific model or requesting a follow-up for further decision-making.
How might you convince a seller to accept your buyer client's low offer?
To convince a seller to accept a low offer from your buyer client, you can highlight any potential benefits of a quick sale, such as avoiding the hassle of a prolonged listing period or the uncertainty of finding another buyer. Additionally, you can emphasize the strengths of your buyer client, such as their ability to close the deal quickly or their strong financial position. It may also be helpful to provide comparables and market data to support the offer price.
Can a Seller break a real estate Offer to Purchase?
One cannot break an offer. An offer is simply that, an offer. Normally in the process of purchasing real property, a buyer makes an offer to the seller. The seller may then accept that offer, reject that offer, or reject that offer and make a counter offer. Typically, an offer is met with a counter-offer, and the process goes back and forth until one party accepts the other's offer. When the offer has been accepted, a contract has been formed. Should a party enter into a contract and later break that contract, they are subject to the conditions of the contract. (Written in the text of the offer and acceptance.) This is only relevant if one party has made an offer and another party has accepted that offer. Real estate contracts generally include conditions, such as inspection and financing, that allow a party to exit the contract if these things are not satisfactory. When one party has made an offer, they are under no obligation to leave that offer open for any period of time. If a buyer makes an offer to a seller, and the seller has not responded yet, the buyer may withdraw the offer for any reason.
Is a contract valid if the buyer informs the seller that they have signed the contract yet the next day the seller tells the buyer that they are no longer accepting the offer?
The contract is not enforceable unless both parties signed it. If the sellers changed their mind and didn't sign then you don't have a contract.
What is the seller when he sells his home an offeror or offeree?
The seller is the offeree. In all real estate cases, the seller will list or "put up for sale" their home or property. A buyer will then submit an offer to purchase that property making them, the offeror.
Can a dealer rescind an offer if they had given the buyer 30 days to decide offer?
If the 30 day offer was part of a formal contract which both you and the seller signed, during which the seller agreed to hold the item for 30 days while awaiting your decision then, no, it probably is not enforceable in law.
