We have an offer coming on the day we were going to raise the list price. We still feel justified in raising the price. How should we respond to the offer?

Recent sales in our neighborhood tell us that our list price is too low. The
offer is slightly below the current asking price.

Asked on April 11, 2017 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Legally, you can respond any way you want, in the sense that a seller is never obligated to accept an offer, even an asking or over-asking offer, and can decline to accept an offer for any reason (any reason other discrimination due to race, color, religion, national origin, family status, sex, or disability, that is). So you have discretion in this case. As to the practicalities of the best thing to say and how--ask your realtor/agent. He or she is a professional in this area, and this is what you are paying him/her for. Follow his/her lead.


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