North Carolina Counter Offer to Purchase 3 - Residential

State:
Multi-State
Control #:
US-01731-AZ
Format:
Word; 
Rich Text
Instant download

Description

This form is a counter offer to an offer to purchase real estate. For use to negotiate a more desirable purchase price. Adapt to fit your specific facts and circumstances. Don't reinvent the wheel, save time and money.
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FAQ

Multiple Offers in Seller's MarketsSubmit a Large Earnest-Money Deposit.Show the Seller That You're Qualified.Give the Sellers Time To Move.Shorten or Waive Some Contingencies.Offer To Bridge the Gap Between Appraisal and Sales Price.Write Your Best Offer.Sell Your Existing Home First.Play Nice.More items...

Any change to an offer creates a new offer, called a "counteroffer." Like an offer, a counteroffer can be withdrawn by the seller at any time before it is signed by the buyer and the signed acceptance is delivered back to the seller or his agent.

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.

There is no law against making offers on more multiple houses. However, as a seller, this can put you in a difficult position, since you can never be sure if the buyer you have accepted an offer from or are considering is as serious as you are about your property.

In short, a realtor might lie about having multiple offers. They can exaggerate the level of interest they have in a property to drive the price up. The goal is to close the deal as quickly as possible. But doing so isn't exactly an ethical practice.

Counter at Your List Price.Reject the Offer.Try to Create a Bidding War.Put an Expiration Date on Your Counteroffer.Agree to Pay Closing Costs.

7 Tips to Help a Home Buyer Win in a Multiple Offer SituationGet Pre-Approved, Not Pre-Qualified.Explore Different Types of Financing.Have Fewer Contingencies.Make a Large Deposit.Make a Large Down Payment.Make a Strong Offer.Other Excellent Home Buyer Resources.

A seller cannot respond to multiple offers by sending a simple counteroffer to each potential buyer. More than one buyer could accept the counteroffer giving each buyer a valid contract, but the seller would not be able to sell the property to more than one of them.

How to best handle multiple offers when you are the SellerTry to have a Manager present.It may be legal to shop your offers, but is it the right thing to do?Logistics.It's the sellers' house, and it's the sellers' decision.When the Listing Agent has their own offer.Avoid selling your Home twice.More items...

It also specifically states that if the buyer, or buyers, accept the seller's terms, the multiple counter must be re-signed by the seller to be binding. This re-signing requirement protects against selling the home to more than one buyer. So the final say on which offer will prevail rests with the seller.

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North Carolina Counter Offer to Purchase 3 - Residential