Details of selling a home

[Coronita]

This is a question I have for folks that are Realtors.

1) If you price your home below market value, and you get a lot of  offers for your asking price, I know you can usually counter with a higher price. But what if you get exactly 1 offer?

2) Are there any legal issues putting a home up for sale at a low price without really having an intent to accept any offers, ethics/morality issues aside? I mean, could I just unconditionally counter with absurd monetary/terms demand such that no one ever accepts the counter?

 —

For example, Suppose a neighbor is trying to sell his at $1.05-$1.15m. Suppose  I put my own home up for sale below a market price, say at $780k. If I get exactly 1 offer, can I simply refuse the offering and counter with another one with a higher price? Or do I need to list my home with a range say, $780k-XXX to give me the latitude to do this? Any issues with this, except the possibility of being a very unpopular neighbor (don't ask 🙂 )

 

 

[Coronita]

<deleted>

Never mind. 

[patb]

if someone makes an offer at your price you will owe a
real estate commission

[NotCranky]

What about an auction starting at 780K and accept pre-bids or something like that? Attach a reserve, whatever you call it, at near the level of reasonable comps.

[NotCranky]

What about an auction starting at 780K and accept pre-bids or something like that? Attach a reserve, whatever you call it, at near the level of reasonable comps.

[NotCranky]

What about an auction starting at 780K and accept pre-bids or something like that? Attach a reserve, whatever you call it, at near the level of reasonable comps.

[NotCranky]

What about an auction starting at 780K and accept pre-bids or something like that? Attach a reserve, whatever you call it, at near the level of reasonable comps.

[NotCranky]

What about an auction starting at 780K and accept pre-bids or something like that? Attach a reserve, whatever you call it, at near the level of reasonable comps.

[patb]

if someone makes an offer at your price you will owe a
real estate commission

[patb]

if someone makes an offer at your price you will owe a
real estate commission

[patb]

if someone makes an offer at your price you will owe a
real estate commission

[patb]

if someone makes an offer at your price you will owe a
real estate commission

[Coronita]

<deleted>

Never mind. 

[Coronita]

<deleted>

Never mind. 

[Coronita]

<deleted>

Never mind. 

[Coronita]

<deleted>

Never mind. 

[SD Realtor]

FLU your questions (IMO) really have alot to do with your representation. For instance if you FSBO the home then you can do whatever you want, accept or reject any offers as you see fit. I don’t believe there are any legal cases of a FSBO seller being brought to court by a FSBO buyer where the buyer was bitter cuz the seller had no intent to sell at an advertised price.

Now if you are in a contract with a realtor for representation and you price the home at any price, and you reject an offer that comes in at price you may run into serious problems. When you sign that listing agreement you are indeed bound by the agreement and by neglecting to accept an offer that comes in at a price that you originally agreed to price it at with the Realtor, there may be a liability issue on your part, you see what I am saying? It all depends on the text in the contract. If you violate those terms you could be held liable not to sell your home but to pay the agreed to commission.

So based on your example above, forget about the neighbor, just worry about the liability you may incur by entering into a contract between yourself and the listing agent. Alternately FSBO it and do whatever you like…

SD Realtor

[SD Realtor]

FLU your questions (IMO) really have alot to do with your representation. For instance if you FSBO the home then you can do whatever you want, accept or reject any offers as you see fit. I don’t believe there are any legal cases of a FSBO seller being brought to court by a FSBO buyer where the buyer was bitter cuz the seller had no intent to sell at an advertised price.

Now if you are in a contract with a realtor for representation and you price the home at any price, and you reject an offer that comes in at price you may run into serious problems. When you sign that listing agreement you are indeed bound by the agreement and by neglecting to accept an offer that comes in at a price that you originally agreed to price it at with the Realtor, there may be a liability issue on your part, you see what I am saying? It all depends on the text in the contract. If you violate those terms you could be held liable not to sell your home but to pay the agreed to commission.

So based on your example above, forget about the neighbor, just worry about the liability you may incur by entering into a contract between yourself and the listing agent. Alternately FSBO it and do whatever you like…

SD Realtor

[SD Realtor]

FLU your questions (IMO) really have alot to do with your representation. For instance if you FSBO the home then you can do whatever you want, accept or reject any offers as you see fit. I don’t believe there are any legal cases of a FSBO seller being brought to court by a FSBO buyer where the buyer was bitter cuz the seller had no intent to sell at an advertised price.

Now if you are in a contract with a realtor for representation and you price the home at any price, and you reject an offer that comes in at price you may run into serious problems. When you sign that listing agreement you are indeed bound by the agreement and by neglecting to accept an offer that comes in at a price that you originally agreed to price it at with the Realtor, there may be a liability issue on your part, you see what I am saying? It all depends on the text in the contract. If you violate those terms you could be held liable not to sell your home but to pay the agreed to commission.

So based on your example above, forget about the neighbor, just worry about the liability you may incur by entering into a contract between yourself and the listing agent. Alternately FSBO it and do whatever you like…

SD Realtor

[SD Realtor]

FLU your questions (IMO) really have alot to do with your representation. For instance if you FSBO the home then you can do whatever you want, accept or reject any offers as you see fit. I don’t believe there are any legal cases of a FSBO seller being brought to court by a FSBO buyer where the buyer was bitter cuz the seller had no intent to sell at an advertised price.

Now if you are in a contract with a realtor for representation and you price the home at any price, and you reject an offer that comes in at price you may run into serious problems. When you sign that listing agreement you are indeed bound by the agreement and by neglecting to accept an offer that comes in at a price that you originally agreed to price it at with the Realtor, there may be a liability issue on your part, you see what I am saying? It all depends on the text in the contract. If you violate those terms you could be held liable not to sell your home but to pay the agreed to commission.

So based on your example above, forget about the neighbor, just worry about the liability you may incur by entering into a contract between yourself and the listing agent. Alternately FSBO it and do whatever you like…

SD Realtor

[SD Realtor]

FLU your questions (IMO) really have alot to do with your representation. For instance if you FSBO the home then you can do whatever you want, accept or reject any offers as you see fit. I don’t believe there are any legal cases of a FSBO seller being brought to court by a FSBO buyer where the buyer was bitter cuz the seller had no intent to sell at an advertised price.

Now if you are in a contract with a realtor for representation and you price the home at any price, and you reject an offer that comes in at price you may run into serious problems. When you sign that listing agreement you are indeed bound by the agreement and by neglecting to accept an offer that comes in at a price that you originally agreed to price it at with the Realtor, there may be a liability issue on your part, you see what I am saying? It all depends on the text in the contract. If you violate those terms you could be held liable not to sell your home but to pay the agreed to commission.

So based on your example above, forget about the neighbor, just worry about the liability you may incur by entering into a contract between yourself and the listing agent. Alternately FSBO it and do whatever you like…

SD Realtor

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