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Old 01-27-2008, 05:55 PM
 
121 posts, read 409,810 times
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We had 2 showings today on our newly listed home. Feedback from both was very encouraging.

My broker brought one of the families through the home. (so I guess she is a dual agent with respect to this family). Anyway, she said the family LOVES the house, is prequalified, BUT.............. has a house to sell. She said that if they did not have a house to sell, they would have made an offer today. She said they will be putting their house on the market tomorrow, that they are in a good neigborhood in their town and will probably list their home a bit lower than they typically would, in order to move it quick so they can get my house.

Now for my question. She thinks they will right an offer this week, but it will contain a 1st right of refusal provision. She explained that we would agree to a price, give them time to sell their house, and give them 48 hours to get a bridge loan if we get an other offer. Why should I consider a 1st right of refusal?

From what I understand, MLS must declare that there is a 1st right of refusal offer on the table, which could deter other brokers from bringing potential buyers to my home. Furthermore, in the 48 hours the buyers have to exercise their right of refusal, my next offer could lose interest and walk.

Anyway, anyone have experience with 1st right of refusal and advice?

Thx.
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