QUICK, EASY OCEAN & GULF ACCESS. Stilted home, boat lift, 34+feet of concrete dockage, outside shower & entertainement areas! Ocean Breezes on your front & back balconies. Updated interior includes granite counter tops, tile throughout. Laundry. YOU OWN THE LOT in this upscale, gated condo resort. Pool, tennis, boat ramp & marina.Owner's private beach, 24/7 security. Minimal financing available
This home SOLD! This well maintained, stilted home, with over 30 feet of boat dock, is one of the most desirable type of properties in Outdoor Resorts of Long Key, Florida. The Seller received a total of four offers, making this a multiple offer situation.
The process for Multiple Offers starts with informing each party submitting an offer that you have another offer either in hand or expected in the same day. It is best to do inform the parties in writing. Our company has produced a form letter to give to each potential Buyer or Buyers' agent involved in a multiple offer situation.
Once you have notified everyone they are in the multiple offer situation, consult with the Seller. the Seller can choose between; accepting the first offer, and asking the remaining offers to await the results. Or, the Seller can accept one ot the other offers upon reciept. Or the Seller can give each offer participant a deadline to submit their highest and best offers, also known as a bidding war. Also, the Seller can choose to accept none of the offers and wait longer for the home to sell.
The Listing Agent needs to be timely and honest, and upfront with all parties involved in the transaction. If the Listing Agent brings in an offer to the Seller, along with anyone else, the Listing Agent is subject to the same treatment as the other offers. Once the Seller has decided which offer to sign, therefore, making the offer a bilateral contract; then, the other parties who submitted an offer are notified. The remaining offers can be signed as Backup Offers, and each backup offer can be placed in order of preference.
In the sale of the property noted above, I was the Listing Agent. I received four offers. The Seller asked for the highest and best offer. The Seller accepted offer #2; and requested the other offers remain in backup position. One of the offers cancelled, one verbally agreed to be a backup contract, and one signed up to be in first backup position.
* HINT * in this case and others in my real estate deals, the backup offer can end up buying the property. Yes, the first backup contract was the buyer of this property.
Multiple offers: be upfront and inform all parties on a timely basis!
Elaine Zimmerman
@homesalesflkeys.com
view the property: http://view.paradym.com/3669968/prt/10003
