Mark Hayward, chief executive of the body representing estate agents, NAEA Propertymark says: An estate agent can tell you whether there’s been other offers on the property in question, but they won’t disclose the specific amounts.
Can a Realtor tell you about other offers?
Unless the buyer gives her permission to release their offer to the other buyer, they must keep everything confidential. … A: With your written permission, the Realtor should be able to tell each purchaser about the other offer. Your Realtor is to be obedient as long as it is within the scope of the law.
Can you find out how many offers are on a house?
1. Ask the Listing Broker. That’s right! If you want to know about multiple offers, go straight to the horse’s mouth and see if you can get some indication.
Can I outbid an accepted offer?
If the purchase contract hasn’t been signed, the seller could accept another offer, even if you think they’ve accepted yours. The seller generally cannot cancel your contract if you are in compliance simply because the seller received a better offer from another buyer.
Can selling agents lie about other offers?
The Realtor Code of Ethics states that agents must disclose offers on the property to any other broker seeking cooperation. Realtors cannot lie to or hide information from another broker who is requesting information in an attempt to cooperate on the sale.
Do sellers always pick the highest offer?
But do sellers always accept the highest offer? The short answer is no. While the offer price is certainly one of the main things the seller will look at, it’s not the only thing that matters. Savvy sellers (and sellers with smart Realtors) know that they need to consider the entire offer, not just the price.
How much should I offer on a house in 2021?
Some real estate professionals suggest offering 1% – 3% more than the asking price to make the offer competitive, while others suggest simply offering a few thousand dollars more than the current highest bid.
Can you ask for proof of another offer on a house?
Answer: The short answer is no. There’s no way to get absolute proof of another offer, except when an Escalation Addendum is used (which I’ll address later), but there are strategies to help determine how legitimate a listing agent’s claim of multiple offers is.
Can estate agents lie about other bids?
Although they shouldn’t, estate agents can and do lie about offers to make it look to you as a seller that they’re creating lots of interest in your property. An estate agent may also lie about offers so they can push you in the direction of a specific REAL offer, so they can get their hands on their commission ASAP.
Can you accept 2 offers on a house?
Yes. Buyers can negotiate multiple contracts on multiple accepted offers, and at the end of the process, they can choose the property they are willing to buy.
How can you tell if a Realtor is lying?
If you’re unsure whether an agent is lying to you about their production, a simple phone call to their broker to find out their track record will usually uncover whether they’re lying or not about their sales history.
Can you lie about having offers on a house?
Yes, they can lie. Realtors—a subset of real estate agents—are forbidden by their Code of Ethics from lying, though some do. Not many, but some. Usually, though, it’s not an outright lie.
How do I beat multiple offers on my house?
How to Handle Multiple Offers on a House and Win
- Get pre-approved. …
- Offer more money. …
- Have as few contingencies as possible. …
- Work with the seller. …
- Create a personal connection. …
- Steer clear of the bidding war. …
- Negotiate an appraisal gap. …
- Secure a backup position.