Does an estate agent have to disclose offers to other buyers?

Yes, an estate agent is legally required to present all offers to the seller up to the point that the contracts are signed. In practice, this means that even if your offer has been accepted, another buyer can put forward their bid at any time before you’ve signed a contractual agreement – which can take a few weeks.

Why would a seller not accept a full price offer?

Why You Might Want to Reject a Full-Price Offer Here are a few other reasons you may want to reject a full-price offer: There are other bids on the table. Your situation has changed, making you less motivated to sell. You think your home is now worth more than the original listing price.

Can an estate agent lie about offers?

Although they shouldn’t, estate agents can and do lie about offers to make it look to you as a seller that they’re creating lots of interest in your property. An estate agent may also lie about offers so they can push you in the direction of a specific REAL offer, so they can get their hands on their commission ASAP.

Do agents have to present all offers?

Legally, agents in NSW are allowed to disclose current offers to any other potential buyers. Agents are required to inform the seller of all offers made to purchase the property, but there is no law to prohibit the disclosure of offers to potential buyers.

Can you refuse a full price offer?

Agreed-to and signed property purchase agreements between buyers and sellers are considered legal contracts. However, in California and most every other state property sellers can refuse even ‘clean’ full-price offers devoid of any buyer contingencies.

Can an estate agent refuse an offer?

Helen Crane, This is Money, added: Estate agents cannot refuse to put forward your offer because you don’t make use of their additional services, such as financial advice.

Do real estate agents have to present all offers to seller?

Can estate agents tell you about other offers?

Estate Agents can’t legally tell you how much the other offers were for, but they will usually indicate if they were close to the asking price, which can help to inform your own decision.”

Does a seller have to respond to a full price offer?

Home sellers are free to reject or counter even a contingency-free, full-price offer, and aren’t bound to any terms until they sign a written real estate purchase agreement.

Can a seller back out of accepted offer?

Accepting an offer on your home occurs when a contract is made in signed writing. Home sellers can back out of the terms of these agreements in select instances (and for a limited time period), subject to the individual rules, terms and contingencies defined in the document.