When a property is being traded, both buyer and the seller are looking for their best interests. Conveyancing in Brisbane is not an easy task as there can be a lot of complications involved as both parties try to protect their rights and interests. Involving conveyancing solicitors and qualified property agents in any property deal is important to make sure all procedures are handled expertly. Sellers are often faced with a problem of multiple offers. Expert and knowledgeable real estate agents can prove to be quite helpful in helping sellers to make the right decision.
When multiple offers are made for a property, the seller is faced with a tough decision to choose the right offer. Under normal circumstances, the seller has the right to choose the offer that is considered best in terms of price. However, there can be certain circumstances when a promise has been made by either the seller or their agent, that way the seller to a particular contract. In this case, the buyer's offer will have to be accepted even though there might be more attractive offers that might come later on. Therefore, when selling a property, it is not a wise thing to indicate this to the buyer or the agent of the buyer that the offer made by them will or may be accepted. The only thing that should be communicated with the buyer is that they should make an offer and it will be up to the seller to decide whether or not a contract will be signed with the buyer.
The sellers need to choose several negotiating strategies when faced with multiple offers for their property. These can be explained by your agent or broker. For example, you have the right to accept the "best" offer. All potential buyers can be informed of this so that they present their best offers. You can "counter" one offer and let others wait or you can also decline others.
In case you have made a decision about a certain buyer and the buyer is informed of it, declining their offer for a better one might cost you more in terms of commission. This is because the agent will charge the commission for doing their job.
Being faced with multiple offers can be encouraging but also involves certain rules and regulations that need to be followed in order to make sure the right decision is made by the seller. Conveyancing services in Queensland offer all kinds of professional help to deal with issues of property trade.