Am I obligated to accept a full price offer on my house?
Home sellers aren’t obligated to accept any offer on their home—no matter how much money it’s for. You’re under no obligation to agree to an offer on the home you’re selling, even if it meets your asking price. If you turn down a full-price offer, you may still have to pay your agent, depending on the contract.
Does a seller have to accept the highest offer?
Sellers can accept any offer they want to accept – they don’t have to accept the highest offer. A seller can take an offer just as it is, counter it, or even counter some offers but not others. For some sellers, price isn’t even the most important point.
Does seller have to accept full price offer Ontario?
A seller must pay commission to their real estate agent if a full-price offer is presented, whether or not the offer is accepted, according to last month’s ruling of the Ontario Superior Court of Justice.
Can a seller accept another offer while contingent?
Contingent – With No Kick-Out This means the seller cannot accept another buyer’s offer unless certain requirements are not satisfied with the current accepted offer. This is good for the current buyer, because they can’t be “kicked out” unless they don’t meet their contingencies.
Can I refuse an offer on my house?
Rejecting an offer is entirely legal as long as you do it for the right reasons. But sellers cannot discriminate against individuals protected under state and federal law. For example, you can’t refuse to sell a home to someone simply because they have kids or are of a different race from you.
Can a seller refuse a full price offer in Canada?
The seller can choose to accept your offer, reject it, or make a counter offer. Sometimes a seller will give one or more buyers a chance to “improve” their offer, but you may get only one chance.
Can seller back out of accepted offer?
Everything works out fine They still own the property and can decide what to do with it. Whether that’s finding a better offer or staying there for years to come, it’s up to the seller to decide. Once they’ve signed a purchase agreement, it’s very difficult for sellers to back out of real estate contracts.
What does obligated to accept field ( OTAF ) mean?
Obligated to Accept Field (OTAF) an amount that the beneficiary is not liable for. If the beneficiary were not responsible for any of these amounts, then the OTAF amount would be the same as the amount the primary insurance allowed. Using an OTAF amount will indicate that there is a discount that the beneficiary was not responsible for.
Do you have to accept any offer on Your House?
Home sellers aren’t obligated to accept any offer on their home—no matter how much money it’s for. 1 There may be other offers on the table or, in some cases, they may want to hold out for more money. In these cases, a seller may reject an offer, even if it’s at asking price—or even above.
Why does a seller not accept a full price offer?
The main reason a home seller would not accept a full-price offer is if the seller has received other offers at higher prices. Then, a seller might want to instead accept one of those offers.