Question: A licensee representing a seller secured a signed contract with no contingencies. Shortly before the scheduled closing, another offer well above the asking price but
A licensee representing a seller secured a signed contract with no contingencies. Shortly before the scheduled closing, another offer well above the asking price but with major contingencies was presented. Unless directed otherwise in writing by the seller, the licensee with the original contract should a. inform the cooperating broker that the property is under contract and not open to further offers, especially those with major contingencies b. promptly present the new offer to the seller, explain to them their obligations, and recommend legal counsel c. ignore the offer but attempt to interest the cooperating broker in a comparable property listed by the firm d. explain to the new offer or that the property is sold and that cooperating broker should have read more carefully the listing firms
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