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Replying to multiple offers with a multiple counter offer pushes the sale towards a completion in a short amount of time but doesn't guarantee any end date for the sale process. However, until the multiple counter offer is ratified by both buyer and seller, the seller can accept an offer which is not from anyone the multiple counter offer was sent to. Once the purchase contract has been signed by both seller and buyer, neither can arbitrarily decide to cancel it. (Two buyers could accept the multiple counter offer but the property can only be sold to one.) The seller has to accept the buyer's acceptance of the multiple counter offer. If a buyer simply accepts the multiple counter offer, that does not mean the buyer has a valid contract.
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If the seller either receives one or more responses to a multiple counter offer (either accepting it, or in turn countering it), the seller must accept and sign one response in order to make the contract ratified. Our local Association of Realtors has standard forms which are normally used by the seller. If more than one purchase offer is countered, the counter is a multiple counter offer and is different from a counteroffer made to a single offer. When a home seller receives multiple offers to buy his home, rather than accepting the best offer, the seller may decide to send a counteroffer or a multiple counter offer as a response. A counteroffer cannot be made, with the intention of accepting the original offer if the counteroffer is not accepted. An important point is that making a counteroffer rejects the original offer. This use of an "offer date" has in turn made preemptive offers more common.Ī counteroffer is a rejection of the original offer and the simultaneous making of a new offer. Multiple offers have been so common that many agents representing home sellers, announce that they will listen to offers on a specified date. The seller may choose to send a "multiple counter offer" to some or all of the potential buyers. If the seller wishes to respond to several offers simultaneously, the seller needs to make a "multiple counter offer". The seller would be in breach of one or more valid contracts. More than one buyer could accept the counteroffer giving each buyer a valid contract, but the seller would not be able to sell the property to more than one of them. A seller cannot respond to multiple offers by sending a simple counteroffer to each potential buyer. In Silicon Valley, multiple offers to purchase a home are often received within a short time period.