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IS AN OFFER DEADLINE SIMPLY A SUGGESTION OR IS IT FOR REAL?
I was just looking through some AR posts and ran across this one from Karen Crowson from October. http://activerain.com/blogsview/5121560/offers-as-they-come-or-offer-due-date-
I started to write a response, but the response got pretty long and turned itself into a post.
So…
In the crazy San Francisco Bay Area market, multiple offers are the norm. In order to manage multiple offers, an offer due date makes sense. It gives buyers clarity in knowing that they have time to submit their offer…not a first come, first served arrangement. It levels the playing field for buyers, at least to some degree. It is not a race to be first, it is about the quality of the offer.  It also protects the seller from accepting what appears to be an attractive early offer and then receiving a better offer which they cannot accept since they are already in contract.
 
But…you can’t have it both ways. Agents who establish an offer deadline but state that the seller reserves the right to accept a “preemptive” offer are trying to have it both ways. You must commit to one course of action. If there is a possibility that the seller will accept an offer before the deadline, there really is no deadline, is there? I have called ... more

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