We put in a bid on a house for the full asking price but another higher offer was accepted. Why didn we get a chance to counter offer?
When the Seller is presented two offers in the state of California, the law does not require the seller to issue a counter offer, unless the seller doesn’t accept either offer. If one of the offers presented is totally acceptable to the Seller, without any changes, no Counter Offer is issued, to any Buyers, no matter how many offers were submitted at one time. If neither offer was acceptable as presented, the seller would then have to counter both or all offers submitted. The first buyer to accept and return the signed Counter Offer within the time frame stated on the Counter Offer opens Escrow. In your case it was oblivious the seller was interested in the offer that presented him with the most money and evidentially there was no need to change anything in that offer, so there was no need to issue a counter to any of the offers submitted. In todays changing market you may want to position yourself as a back up offer. Heres whyThe property will have to be appraised if a lender is finan
