- When a buyer makes an offer to purchase, the seller is usually given a deadline to respond by. Please respect these respond times, or request an extension prior to the deadline.
- If you make any changes to the offer you have made a counter-offer. This means that the buyer is no longer obligated to any of the terms of the contract until he signs off (initials) the changes made.
- When dealing with transaction brokers, as many companies are, the offer is not a contract until all parties have signed and initialed any changes, AND the contract is delivered back to the party who made the last counter-offer. It is NOT sufficient that everyone has verbally agreed to the contract, nor is it sufficient for the sales agent to accept the contract on behalf of his/her customer.
- The seller must look at offers in the order they are written.
- The seller must take the highest priced offer.
- The seller must counter each offer and give buyers a chance to respond with a higher price or better terms.
- The seller can deal with only one offer at a time.
Last but not least, verbal offers and acceptances are not enforceable in Florida! Until everyone has signed, initialed and received a copy of the fully executed contract, other offers may be accepted by the seller.
We encourage you to seek the advice of a real estate attorney for any additional information or discussion about this subject matter.
Click here to find out about contracts for buyers.