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The seller has received a higher offer after they signed a contract. Legally, a seller cannot back out of a contract because they have received a better offer after executing a contract. This becomes really tricky for a seller when they receive a backup offer they know is higher than the agreed-upon contract.
A letter of acceptance, or acceptance letter, is a written agreement to the terms of employment offered by your new employer.
For example, Massachusetts, with it's expensive housing market and high real agent commissions, has a much higher average income for real estate agents: the average Massachusetts real estate sales agent makes $84,180 per year according to Forbes, and the average Boston real estate broker makes $103,720 per year
For example, Massachusetts, with it's expensive housing market and high real agent commissions, has a much higher average income for real estate agents: the average Massachusetts real estate sales agent makes $84,180 per year according to Forbes, and the average Boston real estate broker makes $103,720 per year
While ZipRecruiter is seeing salaries as high as $165,147 and as low as $21,730, the majority of First Year Real Estate Agent salaries currently range between $57,040 (25th percentile) to $112,995 (75th percentile) with top earners (90th percentile) making $140,700 annually in Massachusetts.
Unlike the Option to Purchase, the Offer is not considered legally binding.
A written acceptance can be as formal as a letter stating that the buyer or seller will accept the terms outlined by the other party, or could be as simple as an email message acknowledging the acceptance of the offer or counter offer.
Definition of Acceptance Acceptance in a real estate transaction is the exact point in time when a buyer and seller reach an agreement on the purchase of a property.
An Accepted & Signed Offer Is A Binding Contract Under established Massachusetts case law, a signed standard form offer to purchase is a binding and enforceable contract to sell real estate even if the offer is subject to the signing of a more comprehensive purchase and sale agreement.
The Letter of Offer is a written commitment from a potential buyer to the owner/developer, expressing their desire to purchase a particular property. It's often combined with a financial payment to signify a person's resolution not to back out suddenly, and it also binds both parties to the transaction.