Profile picture for user31751021

if I get asking price and anticipate I might get a few offers over asking am I allowed to see the

offers without any obligation to any broker that brings them in??
What happens if I get 2 offers at the same amount. Can I make conditons that will help determine which offer to take? For example selling as is and prefering cash.
  • September 01 2013 - US
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Answers (8)

Profile picture for wetdawgs
If you had a listing agent and got an offer at asking price with no conditions, then decline it, the listing agent may expect a commission.  however, you do not have a listing agent and your offer of commission is for the buyer's agent.  So, it is a different situation.

I would compare offers with two things in mind. You of course can have more than two things or comparison!

1.  Bottom line $$$$.   (Do they ask for help with closing costs?  Other concessions?)

2.  Probability of closing (if financing, make sure you have a pre-approval letter before making a decision.  If cash buyer, make sure you have proof of funds.  

Good luck.  May you get multiple offers and the offer of your dream with a fast, painless closing.

  • September 03 2013
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Profile picture for user31751021
Thank you all. I do not have a listing agent.. Trying to do myself but offered 2.5% to any broker that brings in a buyer and the offer accepted. It seems like some of the info here is not clear. One said if I get my asking price and do not accept the offer that I still need to pay the broker.
Others said I can choose any of the offers without any obligation. I was worried about multiple offers and I realize there is more than just price. 
I would like a cash offer and to close in a short period of time but I am guessing many do.  At this point I hope I get an offer or two.  The other condition will be to sell as is.

My understanding is if I got my asking price but not the conditions that I state than I do not owe a broker a commission.  I would think the conditons have to be realistic.
  • September 03 2013
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There are many factors besides price which determine the strength or value of an offer.

Your Realtor is in the best position to analyze the offers and determine which are the strongest and most likely to close.
  • September 03 2013
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Your Realtor should guide you through this process.  There are several different ways to do it when you have two or more offers that are similar. But, before we get to that, not only are you ALLOWED to see offers from other Brokers, but your Realtor is REQUIRED to present ALL offers to you.  Whether or not you get asking price or above asking price.  You should see every offer that comes in.  Once that happens, then you have to begin the process of narrowing down the offers and their strengths and weaknesses.  Down payment, credit scores, cash buyers, contingency timelines, waiving of contingencies, etc.  Good luck!
  • September 02 2013
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1. If you have listed with a real estate professional, and you have received an offer that is your asking price, you will owe a commission even if you decide to refuse the offer.  I am not aware of any state where this is not standard practice.
2. If you receive an offer that is your asking price, regardless of whether you THINK you will be getting a few others over what the listed price is, you need to respond to the offer by the deadline given in the offer.
3. If you receive multiple offers on the same property, you need to give notice to all the potential buyers of what your terms are for an acceptable offer and give them a deadline to respond.
  • September 02 2013
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Profile picture for Dustin Baggs
To simplify things put a best and final offer date, an tell all party's involved, there will be many ways besides actual offer amount that will determine how strong the offer really is, for this I recommend a Realtor.
  • September 02 2013
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Profile picture for Ofe Polack
The first thing I suggest for you to do is to get a listing agent, the agent can help you with all the questions at hand, and for sure many more to come.  Good luck!
  • September 02 2013
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You are free to accept or decline any offers that are presented to you for any reason.
You can fine tune and counter offer any of the offers in any way that suits your needs.

Do you have an agent?

if so, he or she can explain this to you.

Good luck!
  • September 01 2013
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