Can you tell me what the other offer is for in Lethbridge Alberta? This is a question that agents are often asked when dealing with Real Estate, when people want to look at a house that has a conditionally accepted offer, or in a multiple offer situation.
No we can't tell you what the offer is for. Sometimes, a listing realtor will let it slip, but Realtors in Lethbridge cannot reveal the price of a home that a seller was willing to accept. If the conditions are not removed on an offer, then it becomes known what price the seller was willing to accept. Should the first deal fall through, someone who was thinking of writing a higher offer is likely going to write for what the first offer was or lower.
The same in a multilple offer situation. If everyone in a multiple offer situation knew what everyone else's offer was, it would become an auction with people revising their bids. In Lethbridge, if there is a multiple offer, all buyers are made aware that it is a multiple offer situation, and buyers know that they may only have one opportunity to present an offer.
Then the seller has the ability to choose which offer they want to work with, or they can also reject all of the offers.
I always tell my buyers, that it never hurts to ask, but sometimes there are things that Realtors do not know, or are not able to reveal .
In Lethbridge Real Estate, we can reveal the final sale price of a home once all conditions have been removed, (which is usually on average about a month before the possession date). Until conditions are removed on a sale, the realtor representing a seller needs to protect her client.