February 28th, 2022 at 2:29 pm
Multiple Choice Question: In last week’s Legal Tip, we discussed how a listing agent must complete the “Presentation of Offer” box at the bottom of page 16 of the RPA, when the buyer’s agent makes a written request for that information. How about the “Offer Not Accepted” box at the bottom of page 15 of the RPA? Is a listing agent or seller required to complete that box if the seller rejects a buyer’s offer? Pick the best answer:
A. Yes.
B. Yes, as a matter of law.
C. Yes, as a matter of ethics.
D. No.
Answer: The best answer is D. Neither the law nor the NAR Code of Ethics requires a listing agent or seller to complete the “Offer Not Accepted” box at the bottom of page 15 of the RPA. However, as a buyer’s agent, you can nevertheless ask the listing agent to kindly complete that box, so you can provide your buyer with some sort of proof that the offer was not accepted. Some listing agents will comply with your request, given that they understand how difficult it can be working with buyers in a very competitive housing market.
Copyright© 2022 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 February 28, 2022. 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. Written by Stella Ling, Esq.
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.
