Multiple Offers

Can someone help this, please



I am A real Estate agent in state of Texas. I have received two offers in ahouse that I have been trying to sell.



-First Offer-Buyer A: 215,000 (25K cash, 95K financing)

Contingenty to buyers sell their propert

Sept 15. I verbally agreed to the terms.



-Second Offer-Buyer B: 210,000 (45K Cash, 165K financing)

NO contingency

Closing date Sept. 30



How can I deal with the bidders. Is it legal to tell bidder B how much Bider A is offering, and if he tops the price and offers a little bit more, Can I tell Bidder A that I changed my mind and that they will required to offer more or remove the contingenty in order to go through with the offer.



I am a new agent and never have dealed with multiple offers.



Any guidance in this matter will be greatly appreciated.

Comments(2)

  • stdavid4th August, 2008

    You should really ask your managing broker to help you through this.

  • cjmazur4th August, 2008

    I say grab the 2nd offer and run! No contingency is well worth 5K.

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