Hello BP family. I could use some insight. I made an offer on a SFR. The agent replied to my offer with a counter by email saying that the owner was elderly and out of town, but when she was back he could have her sign a proper counter offer and send it my way. i accepted the counter and agreed to wait a couple weeks for the seller to get home to receive the signed counter. Two weeks go by and now i'm now being told that there is now a 3rd party in the mix who is offering more money. At this point, my original offer has expired. Should i rewrite it to the email counter price and expect it to be honored? Should i raised my offer because of the 3rd party offer? Has anyone had a similar experience?
Hey @Maikwon Provel
If you were in GA, I would say it is definitely not binding. Here, nothing is binding until both parties have signed and received notice of the executed agreement. I'm betting it's the same where you are but you should speak with a local REALTOR® or real estate attorney to confirm.
Best bet here is to hop on the phone with the listing agent and get real with them. Let them know you understand the email counter was not binding but also you are not happy with the way they handled the situation. I would try to get proof of this other offer before raising mine. Or, just go with the highest price that still makes it a good deal for you and let the seller make their decision.
Tough situation but feel free to reach out anytime if you have other questions or just want to chat!
I am not a lawyer. But I would say t's definitely not binding, especially considering that the counter wasn't even from a party to the contract, it was from a broker.
Nothing counts until it's all signed and initialed by all parties. And unless California is drastically different than FL (I know it is), out of town isn't really an excuse to not get a signature -- I have access to 3 acceptable e-signature platforms and probably more that I don't know of. They "could" have gotten it e-signed.
I would definitely ask for proof of another offer, but they don't have to give it to you (check your state law -- it looks like they "can" but aren't required to).
Your best bet is to make your new offer where you will be comfortable owning the property -- whatever keeps your numbers in line. If you lose it you lose it. They may have been stalling or they may really not have been able to sign -- either way, there's not much you could have done differently other than calling the listing agent every day, and even that wouldn't really have changed anything.
@Dan Maciejewski . Thank you. I agree.. It's to my understanding that the seller is very old and does not use email and definitely doesn't docusign
@Brenden Mitchum Thank you. I hear the 3rd party is not a cash buyer. I am not going to raise my offer, hopefully having cash and fewer contingencies, awards me the winning contract. They already fell out of contract with a potential buyer who needed to get a loan