August 28th, 2017 at 11:26 am
Answer: Yes. The SMCO issued to the other buyer specifically states in paragraph 4 that “Seller has the right to accept any other offer received, prior to Seller selection of this Multiple Counter Offer.” Of course, accepting your buyer may mean that the seller loses out on something better from another buyer. However, the SMCO does not require the seller to wait out the 3 days before entering into a contract.
-Thank you to Chris Serrano (Los Feliz Manager) for suggesting this week’s legal tip.
Copyright© 2017 Berkshire Hathaway HomeServices California Properties (BHHSCP). All rights reserved. Any unauthorized reproduction or use of this material is strictly prohibited. This information is believed to be accurate as of August 28, 2017. It is not intended as a substitute for legal advice in individual situations, and is not intended to nor does it create a standard of care for real estate professionals.
Like what you see here? Sign up for more! Our free e-newsletter informs you of listings in your community, insider real estate tips, the latest in home trends, and more.
