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You should only be sending offers accepted and signed by your seller. A better second offer is too late.
Just like in a normal sale.
Steele
Yeah, that was my thought. Have the seller accept it as a back-up offer only. My concern is whether I have some obligation to present it to the lender as well since their approval is needed to close the deal. Make sense?
Steele V. Propp said:You should only be sending offers accepted and signed by your seller. A better second offer is too late.
Just like in a normal sale.
Steele
Susan,
If you get multiple offers do you present them to the lender (even if they are accepted as back-up offers)?
Yeah, that was my thought. Have the seller accept it as a back-up offer only. My concern is whether I have some obligation to present it to the lender as well since their approval is needed to close the deal. Make sense?
Steele V. Propp said:You should only be sending offers accepted and signed by your seller. A better second offer is too late.
Just like in a normal sale.
Steele
That's the idea of back up offers. To be presented if the first is fully rejected.
But you may have to start much of the process over again. Ask the lender for direction on this scenario.
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