Boise Houses for Sale and Multiple Offer Sudden Death

Boise Houses for Sale and Multiple Offer Sudden Death

Those who have been paying close attention to how the houses for sale in Boise have been performing may have observed the results of the dreaded “multiple offer situation.” When a closing price seems to rise unexpectedly, it could be because of something called the “Notice of Best and Final.”

That notice can be issued by a listing agent as soon as more than one offer is on the table. Experienced real estate agents sometimes choose this strategy to win the best price for their client. It instructs all interested buyers to submit their “best and final offer” by a deadline (usually within 24 – 48 hours). Here is how it works:

  • The seller’s asking price is listed at, say, $320,000.
  • Buyer A is interested; bids $310,000.
  • After a few rounds of negotiation, the seller and Buyer A near agreement at $316,000, when-
  • Buyer B, not knowing that the seller is nearing agreement with Buyer A, submits her own bid.
  • The seller initiates Notice of Best and Final, giving both parties two days to submit their last offer.
  • Buyer A begrudgingly goes up to the full list price: now offers $320,000.
  • Buyer B shoots all the way up to $329,000 – the offer which is accepted.

In this scenario, Buyer B not only paid $13,000 more than Buyer A was about to pay, but also paid $8,000 more than needed to beat Buyer A’s top price.

In Boise, Idaho and surrounding cities listing agents can do another scernario and send out a sellermultiple counter offer to all buyers’ agents to present to their buyers. this is how this multiple counter offer form works: Acceptance of the sellers multiple Counter Offer is contingent upon agreement to the following terms: SELLER is making one or more counter offer(s) to other prospective BUYER(s) on terms  that may or may not be  the  same  or similar to the terms contained herein. Acceptance of this Multiple Counter Offer by BUYER shall  not  be binding unless and until it is subsequently re-signed by SELLER and the re-signed copy is delivered in person or by mail, facsimile or electronic transmission to the BUYER or BUYER’S Agent within the time specified herein.

The Parties understand and agree that SELLER is not obligated to accept any offer, counter offer or multiple counter offer submitted. Further, the Parties understand and agree that SELLER may sell the property to any person and upon any terms deemed acceptable to the SELLER , in the SELLER’S sole discretion, whether or  not  the terms of  the  final  sale are the same,  similar or different  to the terms contained herein.  Until Final Acceptance has occurred either Party may withdraw any offer, counter offer or multiple counter offer to buy or sell the PROPERTY.

 Great news for the seller, for sure — but less exciting for the buyers, since what was a great deal just becomes so-so. That’s why I advise my buyer clients to do their best to remain emotionally detached. I suggest deciding on the true value you believe the home is worth, then sticking to it, no matter what!Whether you are selling or buying houses for sale in Boise, I’m here to watch out for your best interests in every situation. Call me today to discuss a plan that works for you!

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

boise idaho land for sale, new homes boise idaho, houses in boise idaho, homes in boise idaho, mls boise idaho, mls listings boise idaho, for sale boise idaho, boise idaho realtor, real estate in boise idaho, property management boise idaho, mobile homes for sale in boise idaho, boise idaho realestate, boise idaho weather, real estate boise idaho, boise idaho, boise idaho homes, boise idaho real estate listings, home for sale in boise idaho, home for sale boise idaho, mobile homes for sale boise idaho, boise idaho real estate, boise idaho home for sale, homes for sale in boise idaho, home for sale owner, home on sale by owner, homes for sale by owner boise idaho, listing home for sale by owner, homes or sale by owner, how to find homes for sale by owner, homes for sale by owner in idaho, homes 4 sale by owner, owner homes for sale, find homes for sale by owner, homes sale owner, home for sales by owner, home sales by owner,for sale by owner homes, by owner homes for sale, homes by owner for sale, homes for sale owner to owner,boise homes for sale by owner, sale by owner homes, for sale homes by owner, homes sales by owner, for sale by owner home, homes for sale by owners,homes sale by owner, sale home by owner, homes for sale by owner boise id, homes for sale owner, boise idaho homes for sale by owner, home by owner for sale, home sale owner, home for sale by owner, idaho homes for sale by owner, owner to owner homes for sale, homes for sale by owner, homes for sales by owner, home sale by owner, home for sale in nampa idaho, nampa idaho real estate, homes for sale in nampa idaho, nampa idaho homes for sale, homes for sale nampa idaho, real estate eagle idaho, eagle idaho real estate, homes for sale in eagle idaho, eagle idaho homes for sale, homes for sale eagle idaho,