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What if seller doesn't accept full price offer?

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K

katski

Guest
What is the name of your state? Arizona
We offered full asking price for townhouse in Tempe (with negotiable contingency of sale of one of our homes) and included a $1000 good faith deposit. The seller currently rents the unit and sale was contingent upon allowing the tenant to remain until closing. We viewed the TH on Sunday, made a verbal offer through our agent and a written offer first thing Monday. The sellers agent was allegedly travelling and was unable to present the offer immediately. Today, Friday, the sellers agent stated that they decided to only sell to an investor who will allow the tenant to continue to rent the unit. Is the seller in any way obligated to accept an offer of full asking price? Even if they refuse to sell the unit, aren't they committed to pay a penalty or commission to the agents? Both agents did their job. They got the offer. The seller has wasted a week of our time, that we could have continued looking, and has wasted the time of both agents as well. Any recourse?
 


HomeGuru

Senior Member
katski said:
What is the name of your state? Arizona
We offered full asking price for townhouse in Tempe (with negotiable contingency of sale of one of our homes) and included a $1000 good faith deposit. The seller currently rents the unit and sale was contingent upon allowing the tenant to remain until closing. We viewed the TH on Sunday, made a verbal offer through our agent and a written offer first thing Monday. The sellers agent was allegedly travelling and was unable to present the offer immediately. Today, Friday, the sellers agent stated that they decided to only sell to an investor who will allow the tenant to continue to rent the unit. Is the seller in any way obligated to accept an offer of full asking price?

**A: no.
*********

Even if they refuse to sell the unit, aren't they committed to pay a penalty or commission to the agents?

**A: No.
******
Both agents did their job. They got the offer. The seller has wasted a week of our time, that we could have continued looking, and has wasted the time of both agents as well. Any recourse?
**A: No. Since the Seller did not accept the offer, there is no contract, therefore you have no recourse.
 

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