We found a house we really love, but the real estate said, 'They have a first accepted offer, but they're still showing it.'
What does that mean? What are our chances?
sophie78
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Re: first accepted offer, but still showing?
the contract is not signed yet.
julz33
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Re: first accepted offer, but still showing?
Either they are looking for a back-up in case that deal falls through OR they are sneaky and are looking for a higher offer than the first one.
danigirl0
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Re: first accepted offer, but still showing?
yeah..sometimes people make an offer, realize they are in ocer their head, and then retract their offer. we did that once ( : so it leys others see the house in case the offer falls through.
Sweetie2004
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Re: first accepted offer, but still showing?
thanks girls! I have to get more info from this agent I guess!
swags1016
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Re: first accepted offer, but still showing?
It is not necessarily the owners being sneaky. When we put the bid on the house, signed the binder and everything (not contract) we asked them not to show, the owner agree but the agent right infront of us said no you still show. So it may not be the people being sneaky, the agent could just be looking for more money that is why you should always try to get to contract ASAP!
The other reason is sometimes they are advised to get back up offers especially when it is a young couple or someone with 100% mortage like someone said, you never know if the buyers might realize they are over their heads and back out and instead of starting from sratch they go to the second offer.
DebsNY
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Re: first accepted offer, but still showing?
my parents are still showing our house even though they accepted an offer... they kept on doing that in case the deal fell through... which it looked like it might for a while. Hopefully everything will be signed this week though... the damn lawyers keep on delaying it.
Misha
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Re: first accepted offer, but still showing?
The true reason why there are 'first accepteds, still showing' is because any deal can fall through for any number of reasons. In NY state, law says either party can back out for any reason until contracts are signed by both parties. An agent who recommends to her seller to continue showing the house until the contract is signed is doing so to protect her sellers, not looking for a 'better deal' or more commission. So the answer to your original question, it is always worth putting in a back up offer if you really love a house because anything could happen to the first offer.
skew
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Re: first accepted offer, but still showing?
if you love the house, i would definetly make an offer. as mentioned, deals do fall through.
KimberlyBride
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Re: first accepted offer, but still showing?
Same thing happend with us. We put in an offer on Saturday and it was accepted that night and the next day they still had an open house. They are just getting backup offers. Oh I can't wait until closing. This NY housing market is so darn stressful!!!!
