A few things to know about making an offer on an Ocala Home
I recently read an article on making an offer on a home so I’m making my own version specifically for Ocala Florida. A few of these items are in regard to multiple offers which I have seen a couple of times recently.
1. Sellers do not have to accept the first offer. The seller can also reject or not respond to an offer they think is too low or has too many contingencies.
2. A seller and their listing agent do not have to disclose that they have multiple offers.
3. A seller does not have to accept a full price offer. However if a seller does turn down a full price offer the seller owes the listing broker a full commission seeing that the broker fulfilled their obligation under the listing contract with the seller.
4. Verbal, text and emailed counter offers are not considered a contract until both parties sign the actual contract form. Until both parties sign either can change their minds.
5. A buyer that has a signed fully executed contract cannot just change their mind. If you do you will be in breach of that contract. There is no so called cooling off period in Florida for residential homes.
6. If a buyer makes an offer and the seller accepts that offer you have a fully executed contract. That is why you can only make one offer at a time or you could find yourself in contract for multiple homes.
The above statements are based on my experience as a Florida Realtor and should not be considered legal advice. If you need legal advice call a lawyer.
Leave a Reply