 Posted 5/11/2008 4:00:13 PM
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A prospective buyer has indicated they will be making an offer (on a standard offer to purchase contract). Can I ethically and legally advise other prospective buyers that an offer is to be made (or, hopefully, when received that an offer has in fact been made) to give them a chance to make an offer as well?
Simply put, can I tell all prospects an offer will or has been made to create bidding?
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Posted 5/12/2008 12:18:46 PM
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| You can tell other potential buyers that you are expecting/considering an offer from another buyer, but in this horrible market, it will probably chase those other buyers away. The market is flooded with so many houses now, few, if any potential buyers will want to enter a bidding war.
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Posted 5/12/2008 2:47:51 PM
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| OK, thanks for the info. I did, in fact, receive one offer today that is very good (99% of the asking price). Fortunately, I live in one of the areas of the country minimally affected by the recent real estate downturn and we priced the house to move - it's only been on the market for three weeks.
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Posted 5/14/2008 2:56:46 PM
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| SOLD! got two offers - one a contingency another straight. both pre-qualified buyers. countered the first offer received (split the difference), it was accepted and we got 99.5% of asking price in three weeks.
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Posted 5/16/2008 9:34:31 PM
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Congrats! Wow, I wish we were selling in your area! Our house has been on and off the market for almost 2 years now. 
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