Hello,

To give a little bit of past information I have been looking to buy for a little over a year. I have worked with two different agents each who have supplied me a different answer to the question, "What order to sellers have to view/accept offers?"

The first real estate agent I worked with explained it as there can be multiple bids on a house. The seller as long as they have not counter-offered or entered into contract has the option of choosing which offer they are going to accept.

The second real estate agent said they have to accept them in the exact order they were received. Which means unless they reject the first offer, not allowing them to come back to it, they cannot accept the second offer.

In each of the above cases the outcome ended up not being beneficial to my situation. With the information being contradictory to one another, I would like to know the answer before even beginning to seriously look again. Please let me know what is the order which sellers must view/accept offers. With a little more knowledge I may feel comfortable entering the market to buy again.

Thank you,

Kevin

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 Tags: Offers, Multiple Offers

Answers

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Mike Weiland    September 10, 2010

In Minnesota, in a situation where multiple offers exist, listing agents notify all buyers agents to submit their client's "highest and best" offer. The seller then chooses to accept the most attractive offer or begin to negotiate further with the chosen offer.

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Dan Rosenberger    September 24, 2010

There might be local differences, but if multiple offers come in, I don't know any reason why the seller could not choose to accept the one that is most acceptable, or alternately request a "highest and best" from all who had put in an offer.