Question regarding accepted offers and continuing to show the house..

AndrewsChick Posted: Aug 05, 2004 02:12 PM

Question regarding accepted offers and continuing to show the house..

DH and I went to look at a house the other day and we decided to make an offer. The selling agent told us they had another offer, but she never said it was accepted. We made our offer, and also faxed over our pre-qual information, she told us she would be presenting our offer, along with others last night. I get a phone call today, from my agent telling me that the listing agent called her and told us they liked our offer, but they already had accepted another offer and are going to contract on Monday - if they don't go to contract on Monday they will give me a call.
If I knew they had already excepted an offer, I wouldn't have wasted my time.

I understand that many real estate co.'s will continue to show a house that already has an accepted offer, but I was under the impression that they had to disclose that to you, am I wrong??

Thanks for any information you may have. Ellie

AndrewsChick Posted: Aug 05, 2004 04:41 PM

Re: Question regarding accepted offers and continuing to show the house..

Anyone??

swags1016 Posted: Aug 05, 2004 05:00 PM

Re: Question regarding accepted offers and continuing to show the house..

I know the first house that we had put a bid on our realtor didn't tell us that they already had an accepted bid on the house. We had a 20 minute bidding war and then we decided to let go of it, wasn't worth what it was going up to.

I know with this house, she told us that there was a bid in on the day we saw it and then 3 more came in the next day at the open house. Our realtor told us that the owners weren't going to look at any of them until after the open house, we were the 2nd bid and got it.

So since both experience were with the same realtor I don't know, if she has to tell but I think she should've told us about the first one!

DjPiLL Posted: Aug 05, 2004 05:09 PM

Re: Question regarding accepted offers and continuing to show the house..

They don't have to tell you anything until a contract is signed I believe because thats when things are really considered 'in contract'.

Frankly... verbal offers don't mean squat until money has changed hands.

butterfly20 Posted: Aug 05, 2004 05:13 PM

Re: Question regarding accepted offers and continuing to show the house..

we've been told if they had an accepted offer but will still entertain other offers(before contract).... thats why when we got our offer accepted on a house we jumped to contract asap

janwinterbridejoy Posted: Aug 05, 2004 08:01 PM

Re: Question regarding accepted offers and continuing to show the house..

i was also told that a house had a first accepted offer when i was showed the house. alot of times we didnt even bother seeing it because i wasnt going to get into a bidding war

AndrewsChick Posted: Aug 05, 2004 09:46 PM

Re: Question regarding accepted offers and continuing to show the house..

I understand the fact that they will still show a house if an offer is accepted...but they didn't tell me that, they just said an offer was in. Then after I make an offer, they tell me the home owner liked my offer, but they already accepted an offer weeks ago and are suppose to go to contract on Monday - if they don't got to contract, I'm the next up. I just thought they HAD to tell me that an offer has already been accepted, but the homeowner is still entertaining offers??

DjPiLL Posted: Aug 06, 2004 12:32 AM

Re: Question regarding accepted offers and continuing to show the house..

They dont have to tell you anything until the contract is signed.

The offer really isn't accepted until the money has changed hands. Like i said previously... verbal offers are weak. Its very easy to back out of a verbal offer. The realtors know this so they are not going to weaken their position and tell people an offer is accepted unless the contract is signed and he is guaranteed his commission.