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Can a seller reject a full price offer in Florida?
Is she correct? No. A seller is not bound to accept any offer, even at full price. However, your seller could be in breach of your listing agreement by refusing to accept the full-price offer.
What happens if a seller decides not to sell?
A home seller who backs out of a purchase contract can be sued for breach of contract. A judge could order the seller to sign over a deed and complete the sale anyway. “The buyer could sue for damages, but usually, they sue for the property,” Schorr says.
Can you offer a lower price on a foreclosure?
Banks are willing to negotiate foreclosures because they are losing money on the property when it sits vacant. Banks can negotiate directly with buyers without the assistance of a real estate agent. Because they own the property, banks can set the price for any value they deem acceptable.
Can I refuse to sell my house to someone I don’t like?
Rejecting an offer is entirely legal as long as you do it for the right reasons. But sellers cannot discriminate against individuals protected under state and federal law. For example, you can’t refuse to sell a home to someone simply because they have kids or are of a different race from you.
Can a seller not respond to an offer?
While some sort of response is typical, there is nothing illegal or unethical if a seller does not respond. A seller may dismiss an offer altogether if they believe it to be unreasonable, incomplete, or otherwise not in their best interests.
Why would a seller accept a lower offer?
In a seller’s market, available real estate is scarce and potential buyers are abundant, but in a buyer’s market, it’s the potential buyers who have their pick of a glut of properties. When supply is up, home values go stagnant or decrease, which means that a lowball offer could be the best you’ll be able to do.
Can I refuse to sell to someone I don’t like?
How do you negotiate a foreclosure settlement?
It is best to settle the debt by negotiating with your lender.
- Contact the lender.
- Make an opening offer.
- Remind the lender you can file bankruptcy if they are not willing to cooperate.
- Negotiate the payment terms.
- Get the agreement in writing.
- Report the forgiven debt as income on your federal and state taxes.
Can you make a contingent offer on a foreclosure?
When you buy a bank-owned foreclosure property, you can usually make the sale contingent upon a home inspection. This is the same thing you would do in a normal real estate transaction. This kind of contingency gives you a way to back out of the deal if the inspection uncovers items you are unwilling to accept.