Wednesday, August 11, 2021 / by Mitch Stein
A seller is generally under no obligation to accept an offer from a buyer. That said, the seller might owe commission if they refuse a full price offer without any contingencies since most listing agreements state the commission in earned once the broker has produced a ready, willing, and able buyer that has agreed to the price and terms set forth in the listing agreement.
Sellers can reject offers for a variety of reasons. For example, if the offer is less than the asking price, if the offer is subject to financing but the buyer does not have a pre-approval letter from a lender, or if the offer includes unacceptable contingencies. Sellers can reject an offer as long as they don't violate any laws.
Your realtor will review every offer with you in depth, pointing out the pros and cons, and helping you to decide whether to accept, reject, or counter the offer.
If you have any questions relating to buying or selling a home, please give us a call at 909-255-1070. Mitchell Stein License# 0208163