The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

How to Deliver an Offer To The Seller in NYC?

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When trying to buy a home, you must put together a massive packet that acts as a purchase offer. It’s a hefty bit of paperwork, but in most cases, buyers don’t deliver the package to the seller. Or rather, you don’t directly give it to people. So, who brings that packet to the seller? If you have a real estate buyer’s agent, then the agent will be responsible for delivering the offer to the seller’s agent. If you don’t have a buyer’s agent, you must drop it off directly to the seller or agent. You can send offers via email or through direct hand-to-hand drop-off. You aren’t alone if you’re wondering what you should expect from the transaction. We’re going to explain everything to you. We will discuss acceptable methods for delivering an accepted offer.

Whose Responsibility Is it to Deliverer A Buyer’s Offer?

The Responsibility for delivering an offer rests squarely on the buyer’s party.

However, who needs explicitly to deliver it can change. It all hinges on whether you hire a buyer agent or not. If you have a buyer agent, it’s up to them to ensure the proposal is delivered. Otherwise, you have to provide your offer yourself.

1. Who Receives The Real Estate Purchase Offer?

Once again, this hinges on whether or not the seller has hired a real estate agent to help them sell the house.

If they didn’t, then they receive the offer directly. The offer gets handed to the agent if they hire a real estate agent, and the agent then goes overnegotiate an offer in nyc the offer with the seller.

If no agents are involved in the real estate sale process, the buyer puts together their offer and hands it directly to the seller. However, this is exceedingly unwise and inadvisable for all parties involved.

2. What Happens If A Single Agent Represents The Buyer And Seller?

The agent will help the buyer create an offer if this is the case. Then, once the offer is complete, they’ll send it directly to the seller so that they can review it together.

3. How Does Your Agent deliver an Offer?

There are two primary ways the selling party gets offers on the house.

Traditionally, the best way to do it is to hand it directly into the seller’s (or seller agent’s) hands.

This ensures that it has been correctly sent through. However, it’s not unusual for people to send buying offers via email. Generally speaking, it’s best to have a backup and a second physical copy before you hand it to a seller. This way, you both can reference it at the same time. Besides, it’s suitable for security purposes, too.

Can A Seller’s Agent Refuse To Accept An Offer Delivery?

While seller’s agents can advise clients not to take an offer, they do not hold the right to throw an offer in the bin before the seller sees it.

That’s not their right to do, even if the offer is ludicrously low. A seller’s agent has to show every single offer, even if the offer suggests a buying price ofacceptable method for delivering an accepted offer three potatoes and a dollar.

1. What Should You Do If You Have Reason To Believe Your Agent (Or The Seller’s Agent) Didn’t Show The Offer?

The first thing you should do is talk to your agent and tell them the situation.

If possible, explain why you believe that this is the case. Technically, this could be a significant breach of contract and grounds for a lawsuit. Your agent will be able to help determine the next course of action.

If at all possible, try to ask the seller if they have seen your offer directly. If they have not, the seller may want to talk to your agent. This may be a moment where one agent may have to lead a lawsuit against another.

2. How Long Does It Take To Get A Response From The Seller?

Response times can vary from place to place, but in New York, it’s common to get a flood of offers on a single condo or co-op.

In New York, an offer can have a response that takes anywhere from one day to one week. However, there’s no set time when you will hear an offer. If you’re ever worried about this, ask your agent what you should do next.

How Common Is It For An Agent To Refuse To Show An Offer?

Honestly, it’s not common because it would cause a significant scandal in most firms.

However, it doesn’t mean that it doesn’t happen. In fact, at NestApple, we’ve seen it happen with an agent who declined to show an offer from our brokerage, and the result was not good.

Choosing a real estate broker you trust makes so much sense. Give us a call today.

Can You Back out After Delivering Your Offer?

Yes, you can withdraw an offer before signing a formal purchase contract. In most states like New York, it’s commonly known that real estate offers aren’t binding until the buyer and seller execute an agreement. However, it would help if you were very careful about signing any offer submission form given to you by the listing agent. If you sign an offer to purchase form or any other customized offer submission form, you can make yourself vulnerable to a lawsuit if you back out of an accepted offer.
While this is rare, we have seen instances such as McCarthy vs. Tobin in Massachusetts, where a judge ruled that
  • an accepted offer was binding because both the seller and the buyer signed an offer to purchase form that contained common contract language.
  • Furthermore, the buyer had signed a purchase contract and delivered it to the seller’s broker along with an earnest money check. Even though the seller didn’t counter-sign the contract and ended up accepting another bidder’s offer, the judge ruled that the accepted offer was indeed binding.
Generally, be very careful about signing anything, mainly if it contains contract-like language. You’re just putting yourself needlessly into a situation where somebody can sue you. Don’t do it, especially if you are bidding on property in a market like NYC, where buyers email offers and don’t have to sign anything.

Written By: Ossiana Tepfenhart

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