But the Seller Gave Me three Days To Respond To Her Counter On The Menlo Park Home

By
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
https://activerain.com/droplet/n27

Yesterday I wrote about a happy clause inthe CAR contract, today is a sad clause for my buyer. She wrote an offer and got a counter. The counter gave her 3 days to respond, so naturally she thought she was protected and that no one else could have an offer accepted during that time period on this Menlo Park home.

WRONG!

Paragraph 2 of the California Purchase Contract sayd that the seller has the right to market the property and accept any other offer during the time period that the counter offer is valid.  

So, while my client is hemming and hawing, and thinking very carefully about a five thousand dollar difference, someone else could make a higher offer and get the property. Every buyer must decide carefully about what they are willing and able to pay for a home, just as every seller needs to decide carefully and without pressure how much they are willing to accept for their home. But, the buyers must know that there is always a risk that they may lose out by taking their time and be ok with that. Same goes for the seller.  they should make the decision carefully, but must understand that during that time period the buyer may find a different home they like better.

If you have any questions about buying or selling a home in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

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Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

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Rainmaker
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Jeff Jensen
The Federal Savings Bank/Lending in 50 states - Greenwich, CT

Noone ever said this was going to be easy.  At least you have a great town to work with.

Nov 13, 2011 10:00 AM #1
Rainer
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Mary Macy
Top Agents Atlanta Metro - Roswell, GA
Top Agents Atlanta Metro

Great points, time is of the essence!!!!  Anything can happen during 3 days, the seller could get 4 more offers, take one and blow off your buyer.  Nothing is ever final til it closes.

Nov 13, 2011 10:20 AM #2
Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

 

Marcy, Oh No!  S/he who hesitates loses the opportunity.  It’s a shame the buyer did not realize this or understand the possible consequences of waiting to respond.   I hope that will be a good lesson learned and next time there is no time wasted ratifying the contract. 

 

Nov 14, 2011 01:47 AM #3
Rainmaker
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Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

In this case my client decided she did not want to risk loosing the home and made her decision in time to get the house.

Nov 14, 2011 04:19 AM #4
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Marcy Moyer

Probate, Trust, and Investment Specialist
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