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Joan Cox why wait when both parties are eager to go forward? Hoping for better offer may end up in getting a lower offer later on!
One idea is to set expectation in remarks about which day they will be reviewed in a Hot market.
I try very hard to never argue with the Boss Joan Cox.
The first offer may be the best offer. I would not discourage acceptance.
I would believe one must consider the selling strategy the listing agent explained to the home owner.
If the house is priced at +12 percent, make the offer on the table work.
If the house is price at -12 percent, wait the period specified in the REALTOR instructions.
If the house is sold are using the PLF plan, each offer is worked individually.
The advise I give the owner is to secure the 'back up' first. It is magical how that keeps the primary buyer focused.
If they want to take it, I go along with what they want. I will say, "this is a great offer and is exactly what you wanted. You can always wait and see if something better comes along but I can't promise that and you have the bird in your hand." I don't think I have ever had someone turn down a full price offer with the terms that were right!
It is sellers decision, but I would suggest accepting it if all terms in offer were strong.
Joan, I would never encourage the seller to wait if he wants to take the offer. Unless there were some potential issues with the offer, which I would certainly point out.
Many times the most interested party gets their offer in first.
My husband says, the first offer usually is the best offer.
Why not? Waiting never works, I have seen this.
No - it's up to the Seller
I usually advise the seller of the market conditions, liklihood of getting multiple offers, pros and cons of the different scenarios so they have enough information to make a decision in their best interest.
Joan, I think it would depend on a lot of factors, the most important being the seller's motivation.