MULTIPLE OFFERS
We are in the season of multiple offers. It is important that you move cautiously as well as quickly.

Buyers who miss out on a property they like can cause you grief. Avoid any suspicion that you did not act appropriately by having proof that your offer was prompt and read by the Seller.

All too often, we see "Per Phone Call with Seller" in lieu of the Seller's signature on the Purchase Agreement. The first thing this tells you is that the Seller did not personally read the contract.

When you are on the Seller's side, review each Purchase Agreements with the Seller in person, unless it is totally not possible. It is important that you have the Seller sign all 8 pages of the Purchase Agreement and date it along with the Counter Offers on each offer that is being countered. It shows all parties of that transaction that the Seller actually saw and reviewed the paperwork.

When you are on the Buyer's side, confirm with the Seller's Agent that he received your faxed offer and ask when it will be presented. Also, be sure to remind the Seller's Agent to return your Purchase Agreement signed and dated by the Seller along with the first Counter Offer. You want to remove any doubts from the Buyer that your offer reached the Seller in good time and was seen and reviewed by the Seller.

Agent paraphrased the offer to the Seller. The Seller never read it.

REJECTED OFFERS

The consequence of multiple offers is that you will have at least one rejected offer, whether you are on the Buyer or Seller's side. Rejection may occur at any point in the negotiations.

If you are on the Seller's side and the Seller wants to reject the offer outright, draw a line across the front page, mark it "REJECTED" an have the Seller sign and date below it.

Fax the front page to the Buyer's agent

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COMMENTS? CONTRIBUTIONS?
Don't be shy! Contact REMERGE TC Gazette Editor: Shelly Gorenstein at shelly@remerge.com