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Permalink Reply by Joseph C. Alfe on February 14, 2012 at 4:10am

ALWAYS have seller sign the offer before you submit.  There is nothing wrong with waiting a short period to gather additional offers, but seller can only accept and sign one.  Highest offer is not always best.  You need to see who is strongest buyer most likely to close, or has flexibility in price or ability to bring any extra cash needed to close.

www.ssprocessors.com

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Permalink Reply by Mike Linkenauger on February 14, 2012 at 11:55am

I agree with Josephs comments.  Also, Definitely put in "pending" or "escrow" status one seller accepts and offer, but still keep contact with other buyers or those others who put in offers.  They may be needed after first buyer backs out...  Screening the buyers as Joseph described is definitely critical.

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Permalink Reply by Victoria Clark-Alexander on February 14, 2012 at 12:51pm

Thanks Joseph and Mike. I spoke with the NAR lawyer this morning, she said to always get the sellers signature first. If another offer comes in within the response time it is up to the seller if he wants to do highest and best or chose to accept which ever offer he wants. Thanks guys. Your correct!

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Permalink Reply by Angela Alfe on February 21, 2012 at 2:39am

When you state "forward offer, hud, and pre approval to lender", are you also forwarding Authorization, hardship, PFS, etc?

If you are not, you need to be.

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Permalink Reply by Vanessa Calhoun on February 21, 2012 at 10:12am

I agree with both Joseph and Mike. In fact, most lenders will come back to you, if they're kind enough, to let you know that your seller needs to sign the state contract. I've also had a bank negotiator tell me that he'll place files with multiple contracts at the bottom of the pile or will even "lose" them because it's not within his job description to try to determine exactly to whom the seller wishes to sell. He even added that it's more work for them because they have to delete offers and re-input offers on an offer screen and can never move the process forward.

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