A seller is generally under no obligation to accept an offer from a buyer. That said, the seller might owe a commission if they refuse a full price offer without any contingencies since most listing agreements state that commission is earned once the broker has produced a ready, willing and able buyer that has agreed to the price and terms set forth in the listing agreement.
Sellers can reject offers for a variety of reasons. For example, if the offer is less than the asking price… if the offer is subject to financing but the buyer does not have a pre-approval letter from a lender… or if the offer includes unacceptable contingencies.
Sellers can reject an offer as long as they don’t violate any laws, such as the Federal Fair Housing Act, which protects people from discrimination when they are renting, buying or securing financing for housing.
Your REALROR® will review every offer with you in depth, pointing out the pros and cons, and helping you decide whether to accept, reject or counter the offer.
