Can I send counteroffers to more than one buyer?

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A man and woman pulling a for sale sign with a sold rider on it with a child running in the background

02/24/2015 | Author: TAR Legal Staff

Three different buyers submitted offers for my house. Can I send counteroffers to all three and accept the response I like best?

When you make an offer or counteroffer, you give the other party the power of acceptance to create a binding contract. Therefore, if each buyer accepts your counteroffer, you would be legally bound to sell the property to three different buyers.

You could make a counteroffer to only one prospect. Or, if you’re working with a Texas REALTOR®, he or she can provide each buyer with the Texas Association of REALTORS® form Seller’s Invitation for Buyer to Submit New Offer. This form indicates that you aren’t accepting the original offer, and allows you to outline what you’re looking for in a subsequent offer. The form also states that your property will remain on the market, and that you may consider and accept other offers.

Have a question about buying, sell, or leasing property in Texas? Ask us. Not all submitted questions will be answered.

Categories: Legal, Buyers, Sellers
Tags: consumers, legal, sellers, contracts


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Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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