This form is a sample letter in Word format covering the subject matter of the title of the form.
This form is a sample letter in Word format covering the subject matter of the title of the form.
Sellers can accept the “best” offer; they can inform all potential purchasers that other offers are “on the table”; they can “counter” one offer while putting the other offers to the side awaiting a decision on the counter-offer; or they can “counter” one offer and reject the others.
As a seller, you can accept parallel offers and work through them until the contract signing stage, when you have to choose the most favorable one. Although it's not ethical to lead on two buyers, the idea of having more than one offer gives you some leverage.
A seller can accept another offer when the buyer doesn't meet the demands. A low appraisal, not meeting the agreed terms such as buying a home as it is, or a delayed process can force a seller to look elsewhere. A breach of contract means the buyer doesn't stick to the terms agreed upon.
“Although this will cause some pushback and sometimes isn't looked at as the most ethical, a seller can legally still accept any other offer up until attorney review conclude as the deal isn't officially under contract.”