Must I disclose the terms of other offers? How are multi-offer situations handled?
Terms of offers absolutely do not have to be disclosed. Offers are not confidential between the Buyer and the Seller and can be disclosed by the seller if they desire and approve to do so. Offers are confidential information between the Broker, Agents, and Client and not under any circumstances shall a Broker or Agent disclose terms without the express permission of the Client they are representing.
In a tight Sellers market we experience many “multi-offer” selling situations. When more than one offer is received before the execution of a contract it is a multi-offer situation. There are many different strategies and considerations when determining how to respond to multi-offer situations.
During our initial consultation we will discuss the likely hood of a multi-offer situation and review the methods of responding and presenting. For both Buyer and Seller, we will plan for this possibility and discuss how to respond. Each situation and timing is different and the strategy must fit the situation.
Notice: This website contains general information about possible legal and financial matters. The information is not advice, and should not be treated as such. You must not rely on the information on this website as an alternative to legal or financial advice from your attorney, accountant or other professional legal services provider. If you have any specific questions about any legal and financial matter you should consult your attorney, accountant or other professional legal services