Should You Show Your Home After You Accept An Offer On It?
Posted on: 16 May 2017
If you are trying to sell your house, you may be very excited on the day you receive an offer. When this happens, you will have to decide within a few days whether you will accept it or not. If you decide to accept you, your next question may be whether you should continue showing your house to other potential buyers. You can talk to your agent about this, and he or she will probably tell you the following things.
You can legally do this
The first thing you should know is that you are legally allowed to continue showing your home to other buyers after you accept an offer for it. This house is still your house and showing it to other people is not against the law. The important thing to realize, though, is that the purchase agreement you accepted from the buyer is a legally valid contract. This means that you cannot legally sell your house to anyone else after accepting an offer, as long as the deal is still in process.
If the buyer runs into a problem and cannot end up buying your home, you will no longer be tied to the contract with that person. At that point, you would be able to sell your home to someone else.
This offers a way to find a backup buyer
The main reason homeowners continue showing their homes to buyers is to locate a backup buyer. If anything goes wrong with the original buyer's purchase of your house, the deal will be off, and you will once again be back at square one. If you had continued showing your house, you may have found another person that really wanted to buy your house, and that person might still want to buy it if the original deal falls through.
If you decide to continue offering showings on your house after you accept an offer, you must let prospective buyers know. You can tell them that the house is in the process known as contingent continue to show (CCS), and this simply means that the house is currently sold but is pending the buyer's financing and other requirements.
Selling a house can be a complicated process, especially if you have never done this before. Because of this, you should make sure you select an experienced, local real estate agent to help you with the process of selling a house.
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