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Old 04-20-2010, 12:06 PM
 
2 posts, read 4,337 times
Reputation: 11

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Hey there,

This friend of mine they liked a townhome and offered (signed those papers) a price to the seller. They are new in my town and I was kind of helping them to find the right home/townhome. The seller placed a counter offer with a price in between my friend's offer and the original list price. In the mean time we found another house in a different locality which is more cost effective. So it looks like she doesnt want this townhome anymore. Can she simply tell the agent that she doesnt want to place a counter offer and simply cancel the contract ? I know giving a offer is like a contract if the seller accepts all terms and condition but if the seller didnt accept and placed a counter offer are we leagally required to place a counter offer or just ignore it.

Suman
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Old 04-20-2010, 12:24 PM
 
Location: Just south of Denver since 1989
11,576 posts, read 31,886,166 times
Reputation: 8358
Your friend made an offer. The seller countered. Buyer's did not agree to counter and never signed it making it a contract.

Both are free to pursue something else.

You need to be careful about helping your friends get a house. Sounds like practicing real estate without a license.
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Old 04-20-2010, 12:26 PM
 
Location: Tempe, Arizona
4,511 posts, read 12,814,430 times
Reputation: 2199
You are not required to reply with a counter. How you reply may depend on your location. Here, I would just tell the other agent that we are not accepting the counter and not recountering. End of negotiations.
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Old 04-20-2010, 12:40 PM
 
Location: Olympia
1,022 posts, read 3,904,114 times
Reputation: 836
They never had a contract. They can move on.
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Old 04-20-2010, 04:04 PM
 
2 posts, read 4,337 times
Reputation: 11
Hi All,

Thanks for your answer that really helps.
And no I am not practicing real estate. We have a realtor that we are working with. I am merely helping them in driving around and telling them what areas are good in the city.
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Old 04-20-2010, 04:08 PM
 
Location: Tempe, Arizona
4,511 posts, read 12,814,430 times
Reputation: 2199
Just curious, why didn't you ask your Realtor what to do?
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Old 04-20-2010, 04:22 PM
 
Location: Northwestern VA
982 posts, read 3,305,842 times
Reputation: 568
In VA when a party in the transaction counters, it restarts the negotiation clock. Either party can walk away as neither is obligated to agree to the new terms.

Quote:
Originally Posted by smile11 View Post
Hey there,

This friend of mine they liked a townhome and offered (signed those papers) a price to the seller. They are new in my town and I was kind of helping them to find the right home/townhome. The seller placed a counter offer with a price in between my friend's offer and the original list price. In the mean time we found another house in a different locality which is more cost effective. So it looks like she doesnt want this townhome anymore. Can she simply tell the agent that she doesnt want to place a counter offer and simply cancel the contract ? I know giving a offer is like a contract if the seller accepts all terms and condition but if the seller didnt accept and placed a counter offer are we leagally required to place a counter offer or just ignore it.

Suman
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Old 04-20-2010, 04:30 PM
 
167 posts, read 471,357 times
Reputation: 93
Quote:
Originally Posted by rjrcm View Post
Just curious, why didn't you ask your Realtor what to do?
I'm just curious about your statement as well. If everyone asks their own realtor what to do, then is this forum only for people without a realtor to ask questions? I'm not disagreeing that the OP should ask his/her own realtor first but I'm just wondering what kind of question I may ask on this forum. I am working with a realtor as well.
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Old 04-20-2010, 04:56 PM
 
Location: Tempe, Arizona
4,511 posts, read 12,814,430 times
Reputation: 2199
Quote:
Originally Posted by need_more_light View Post
I'm just curious about your statement as well. If everyone asks their own realtor what to do, then is this forum only for people without a realtor to ask questions? I'm not disagreeing that the OP should ask his/her own realtor first but I'm just wondering what kind of question I may ask on this forum. I am working with a realtor as well.
As Realtors, we walk a thin line when answering questions for others that have their own Realtor representation. Our code of ethics prevent us from interfering with another Realtor's client relationship. In particular, I don't want to give advice that may incorrectly contradict their Realtor especially when their Realtor should have a better grasp of their client's situation and contractual obligations.
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Old 04-20-2010, 06:10 PM
 
Location: Just south of Denver since 1989
11,576 posts, read 31,886,166 times
Reputation: 8358
Our information or advice is general in nature. We don't know you, your contract or your localisms.

Your own agent would have specific to your transaction advice.
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