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What in the world is a seller multiple counter offer, and how do they work? Often, in competitive seller markets or even just in a high-demand neighborhood or community, you’ll run across a “Seller Multiple Counter Offer” situation. Now what this means is simply that the seller has received more than one offer on their property, and rather than just counter one of the offers, they decide to submit multiple counter offers simultaneously. Now, if one or all of the buyers receiving the multiple counter offer ACCEPT the offer—unlike a regular counter-offer—there is still no binding contract YET. The seller still has the final pick of the offers, and in order for a binding agreement to be made between the parties, the seller will sign and accept the one that makes most sense to them. Also know that the terms on these multiple counter offers do NOT have to be identical. For example—let’s say that buyer number ONE submits a five-hundred thousand dollars CASH offer with no loan contingencies and a twenty-five-day close with a three thousand dollar earnest money deposit, buyer number TWO offers five hundred and ten thousand with a thirty-day close, ten thousand dollar earnest money deposit AND they want the playground in the back to stay, and let’s say buyer number THREE offers five hundred and fifteen thousand with a ninety-day close and five thousand dollar earnest money deposit. Now there are multiple ways a seller can submit multiple counters. One way is that the seller makes personalized counter offer terms based on what that particular buyer had offered. For example—let’s say the seller’s biggest priority is to sell for at LEAST five hundred thousand dollars, but they also need to close FAST—let’s say they have a job transfer in one month. So the seller counters buyer number ONE saying “Purchase price to be five hundred and five thousand dollars, earnest money deposit to be twenty-thousand, so I know you’re serious, and since you’re buying CASH, I want to close in fourteen days instead of twenty-five.” He’s saying, “Hey, I can live with a lower price even though I have higher offers, so long as this buyer will close fast, so I can focus on my job transfer.” Then let’s say the seller counters buyer number TWO and says: “Purchase price to be five-hundred and fifteen thousand since they want my kids’ playground, and I’m OK with the thirty-day close and ten thousand dollar deposit.” And let’s say they counter buyer number THREE saying: “close of escrow to be thirty days from acceptance instead of ninety.” See, the terms of the counters could be all different, based on what makes most sense to the seller. If he gets less money but a quicker close, that will minimize his stress when he’s worrying about his job transfer. Or he’s saying, “sure, I’d be ok with a longer escrow, so long as I get a higher sales price.” And if buyer number TWO doesn’t accept, well hopefully buyer number THREE will, and I’d be ok with that too. Now look, all three of them could...
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