Seller Rejects Full-Price Cash Offer
We were talking among realtors. My friend said he had submitted a full-price cash offer with no contingencies. The seller said he wanted more money and rejected the offer. The question: is can the seller do that?
We concluded that yes the seller can reject any offer that meets or exceeds the listing price and terms.
We were told that a listing is a solicitation of offers: it is not an offer to sell. This means that a seller is seeking offers which will be the basis for a contract. In order to be a contract there mus be a “meeting of the minds” on all the elements needed to create a contract.
Another question. Did the realtor earn a commission? Easy answer: No. If there is no sale no commission.
Please call me if you have any questions because I really would like to help you.