Can anyone explain to sellers a reverse offer?

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February 03 2011 - US
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As it was explained to me, the listing agent contacts buyers agent (who has given positive feedback and that there was some interest...but buyers are still looking).  Listing agent obtains buyers name explaining to Buyer's agent the seller has proposed writing up a reverse offer.  The contract is then written up by the seller's agent, signed by seller and delivered to Buyer's agent.  The two deals that I know were successful here locally (I did not write them), offered the contract price at less than listed, closing costs and items conveying.  I believe both deals went back and forth, but ultimately were ratified!  I do want to attempt this sort of contract, the opportunity just has not presented itself yet.  Good luck!
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February 03 2011
 
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