Can Potential Buyer Ask for Proof of Other Offers?

[Anonymous]

Anonymous wrote:If i received an offer with a 1 hr time limit, I would just counter back changing the time limit to whatever I wanted.

Right. This is why time limits are pointless, unless you're seriously not going to negotiate further.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What difference does it make? Why do you want proof?

What kind of idiotic question is this?

They want to know so they aren't bidding against themselves!

You put in an offer for what you think the house is worth to YOU. You are not bidding against yourself. You have your price, you offer it, and that is that.

Obviously not a student of economics ... supply/demand, competition, etc.

Nope...I disagree. A house is worth only what it is worth to YOU. It can be worth more to another party, it can be worth less to another party. Just because it's worth more to someone else, doesn't mean you should increase what you're willing to pay. I'm not saying this is not how the real estate market works. But it is how many people find themselves paying more than what they though the top of their range was.

This makes absolutely no sense. Just because a house is worth more to a buyer doesn't mean the buyer should pay that amount for it if it's worth less than that to the market. This is literally basic economics, as the poster you have quoted pointed out. Do you go into a store and pay full price for a gallon of milk that is on sale, because it's worth the full price to you?

[Anonymous]

Easy! - just ask the sellers agent how long he has been out? That always throws them off guard.

[Anonymous]

In response to the first poster at 16:23:

Basic economics is about supply and demand. If five people in need of milk went to a grocery store and there was only ONE carton of milk for sale for $4.00, I bet one or more of those people would pay MORE than $4.00 for the milk just to get it.

[Anonymous]

Anonymous wrote:If i received an offer with a 1 hr time limit, I would just counter back changing the time limit to whatever I wanted.

That and I would think the bidder was an idiot. Unless the bid was above market value, no one would accept an offer than expired in an hour except in the strongest of buyer markets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

The question was whether a buyer ever has a right to ask for proof of another offer. Several people answered that question seriously--only when an escalation clause is triggered. Please stop with your heavy handed advice, you're off on a tangent making more false assumptions that I can count. I didn't ask for, nor am I interested in, your negotiation advice.

And that right there OP is why you don't have a house. Good luck to you, but you have zero idea how this works. Clearly. You want "proof" of another offer before you've written one? Amateur.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

Not the OP but any thoughts on my follow up question at 09:34? (Sorry to hijack the thread!)

If the pages you receive also include the buyer's agent's name which they should, then you or your agent call them and ask if that was a bonafide offer.

You can't ever stop this, but it would truly take a LOT of effort on someone's part to drive the price up on a contract. But people do it on ebay all the time apparently.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If i received an offer with a 1 hr time limit, I would just counter back changing the time limit to whatever I wanted.

Right. This is why time limits are pointless, unless you're seriously not going to negotiate further.

Well, and then this is why you would end up waltzing right into a multiple bid situation. A bird in the hand people, a bird in the hand.

The stupidity on this thread is hilarious. A lot of you just have no idea how things really work. It's comical watching the comments to see "ohhhh, this is how buyers think....."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

The question was whether a buyer ever has a right to ask for proof of another offer. Several people answered that question seriously--only when an escalation clause is triggered. Please stop with your heavy handed advice, you're off on a tangent making more false assumptions that I can count. I didn't ask for, nor am I interested in, your negotiation advice.

And that right there OP is why you don't have a house. Good luck to you, but you have zero idea how this works. Clearly. You want "proof" of another offer before you've written one? Amateur.

Right, if only I'd gone with the one hour offer, I'd be king.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

The question was whether a buyer ever has a right to ask for proof of another offer. Several people answered that question seriously--only when an escalation clause is triggered. Please stop with your heavy handed advice, you're off on a tangent making more false assumptions that I can count. I didn't ask for, nor am I interested in, your negotiation advice.

And that right there OP is why you don't have a house. Good luck to you, but you have zero idea how this works. Clearly. You want "proof" of another offer before you've written one? Amateur.

And who said I didn't get the house Back to the false assumptions . . .

[Anonymous]

This website, not only sounds sexual (i.e., DCUM), but is full of morons. You all need to get a life and direct your energy to something productive.

[Anonymous]

As you have PP?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

Not the OP but any thoughts on my follow up question at 09:34? (Sorry to hijack the thread!)

If the pages you receive also include the buyer's agent's name which they should, then you or your agent call them and ask if that was a bonafide offer.

You can't ever stop this, but it would truly take a LOT of effort on someone's part to drive the price up on a contract. But people do it on ebay all the time apparently.

Thank you.

[Anonymous]

NP here.

OP does sound like an amateur at this. In what world does an agent have to disclose anything to you when you've not written a contract? Then coyly coming back to say "who says I didn't get the house" with smiley face. You made yourself sound like a tool.

[Anonymous]

Anonymous wrote:NP here.

OP does sound like an amateur at this. In what world does an agent have to disclose anything to you when you've not written a contract? Then coyly coming back to say "who says I didn't get the house" with smiley face. You made yourself sound like a tool.

Welcome back, Mr./Mrs. one hour offer!