Posts by Doug Buenz

Q & A: Can a Seller Cancel a Counter Offer?

Q:  Hi Doug.  We recently submitted an offer on a San Ramon home for sale.  We have bought and sold several homes, so we are not beginners.  We absolutely loved this house, and we were delighted to get a counter offer from the seller.  The counter offer expired the following day at 5:00 PM.  We had to check on a couple of things with our lender before signing it, but we definitely planned on signing it by the 5:00 PM deadline.  At about 3:00, we got word from our agent that the counter offer was cancelled.  That seems really unfair!  Needless to say we were devastated that the seller did not let us respond first.  Can the seller do that?  Amy in San Ramon

A:  Thanks for the question Amy.  I can certainly understand how upsetting it is to you, and how unfair it must seem.  The short answer to your question is yes, the seller has the legal right to cancel (rescind) their counter offer before it is signed.  It may seem unfair, but the seller has the legal right to do that.  Usually it is because the seller received a better offer, and no longer felt the terms on the counter offer they sent you were good enough.  I know it is disappointing, but the law is the law.  In general, the seller is perfectly entitled to act in their best interest, and as long as the buyer had not yet signed the counter offer, they can rescind it. 

The same goes for the buyer by the way.  The buyer is free to withdraw their offer any time before the seller signs it.  My best advice is when you get a counter offer that is acceptable, sign it.  A lot of things happen if you wait, and many of them are bad.  In a hot market like we are experiencing, things move fast, so be sure you are geared up for the pace of the market.  As always, be sure to check with your attorney for legal advice.  Happy hunting!

SOLD! 1112 Deer Creek Court Pleasanton CA 94566

Gorgeous Greenbriar home with 5 Bedrooms , 4 full baths, granite kitchen with gas range & stainless built-in refrigerator, soaring volume ceilings, downstairs bedroom and full bathroom, luxurious master suite, 3 car garage, new designer carpeting, new two tone paint, designer drapes, private yard, & more!


Fabulous Carleton Oaks Home in Premium Location
Overview
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Description
Neighborhood
Market Stats
IDX Search
$1,268,000
Single Family Home
Main Features
5 Bedrooms
4 Full Bathrooms
Interior: 3,265 sqft
Lot: 6,000 sqft
Year Built: 2004
Location
1112 Deer Creek Court
Pleasanton, CA 94566
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 
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Homes for Sale in Pleasanton CA

SOLD! 6256 Guyson Ct Pleasanton CA 94588 | Pleasanton Homes for Sale

Rare Bay-O-Vista model in a fantastic court location. Beautiful distressed hardwood floors. Open kitchen with tile counters, breakfast bar and spacious dining area. Step down family room with cozy fireplace. Updated hall and master bathrooms. Dual pane windows. Represented Buyers. Call Doug Buenz at 925-621-0680 to get your home sold!


SOLD! 6256 Guyson Ct Pleasanton CA 94588 | Pleasanton Homes for Sale
Overview
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Photos
Market Stats
IDX Search
$680,000
Single Family Home
Main Features
3 Bedrooms
2 Full Bathrooms
Interior: 1,434 sqft
Lot: 0.14 acre(s)
Year Built: 1969
Location
6256 Guyson Ct
Pleasanton, CA 94588
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 

Listed by: Doug Buenz

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Homes in Livermore CA

SOLD! 646 Daisyfield Dr Livermore CA 94551 | Livermore Homes for Sale

Lovely Murietta Meadows home, largest model in the neighborhood. Neutral decor throughout, beautifully maintained. Spacious kitchen with garden window and newer appliances. Plantation shutters. Gorgeous backyard with pretty landscaping and hardscape. Represented Buyers. Call Doug Buenz at 925-621-0680 to get your home sold!


SOLD! 646 Daisyfield Dr Livermore CA 94551 | Livermore Homes for Sale
Overview
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Photos
Market Stats
IDX Search
$765,000
Single Family Home
Main Features
4 Bedrooms
3 Full Bathrooms
Interior: 2,539 sqft
Lot: 0.18 acre(s)
Year Built: 1996
Location
646 Daisyfield Dr
Livermore, CA 94551
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 

Listed by: Doug Buenz

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Q & A: Should a Seller Consider a Contingent Offer?

Q: We have received a contingent offer on our home. What are the pros & cons of accepting a contingent offer? We have been on the market now for a couple weeks with no offers. Sarah in San Ramon

A: Great question Sarah. Contingent offers have not been too common in the strong seller’s market we have been in. Generally we see more contingent offers (contingent on the sale of a home) when the market is more balanced, or in a buyer’s market. But in the right situation they can be worth pursuing. As usual, there are pros and cons to a seller accepting a contingent offer.

Reasons to consider a contingent offer include:

Price. Contingent buyers are usually willing to pay a good price for the property, often more than a non-contingent buyer. And that is only fair, as they in effect are compensating the seller for taking the risk of their home selling.

Timing. If you as a seller have lots of time, or don’t want to be forced to move quickly, a contingent offer can sometimes be a better choice than demanding non-contingent buyers who may not want to work with your schedule

Ease of Sale. If the buyer’s home is easier to sell than your home, then a contingent offer can make sense. For example, if you are selling a home that has a very narrow market with a limited buyer pool, and the buyer makes an offer subject to selling their home in Palo Alto, it can make a lot of sense to consider it, as the buyer’s home will likely sell in about 8 hours, and your home may take months to sell

Reasons to be wary of a contingent offer include:

Locking out Non-Contingent Buyers. If you accept a contingent offer, you are possibly losing out on other non-contingent buyers. One way around this is to include a release clause that gives you the seller the right to accept a non-contingent offer and cancel the contingent offer after a certain period of time (usually 2 days). Even if you continue to market the property as a contingent sale where you can accept a non-contingent offer, the showing activity drops as buyers typically do not want to pursue a home they may not be able to secure.

Lack of Control. A contingent offer is essentially an option to buy your home, as it is up to the buyer to decide if they want to accept an offer on their home. Or the buyer may decide they want to ask a price above what the property is worth. Very important to review carefully the pricing strategy of the buyer on their home before you agree to tie up your home

Added Complications. As a seller, not only do you have to get through your own contingency period, but your sale is also subject to the buyer of the buyer’s home getting through their contingencies. In effect, you are often adding twice the contingencies, and increasing the odds of something derailing your sale

Uncertainty. If you accept a contingent offer, you will be adding uncertainty to the transaction. It becomes difficult to make firm plans around moving, as you need all contingencies removed before you can safely commit to moving. Even then, you may not want to physically move until your transaction closes in the event there are any last minute hiccups.

Contingent offers are not to be automatically dismissed, nor should they always be embraced. As is often the case with real estate, it depends on the situation.

Real Estate in Pleasanton CA

SOLD! 583 Montori Ct, Pleasanton, CA 94566


SOLD! 583 Montori Ct, Pleasanton, CA 94566
Overview
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Photos
Market Stats
IDX Search
$1,490,000
Single Family Home
Main Features
4 Bedrooms
2 Full Bathrooms
1 Half Bathroom
Interior: 2,296 sqft
Lot: 18,204 sqft
Year Built: 1995
Location
583 Montori Ct
Pleasanton, CA 94566
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 

Listed by: Doug Buenz

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Homes in Dublin CA

SOLD! 6526 Sierra Ln, Dublin, CA 94568


SOLD! 6526 Sierra Ln, Dublin, CA 94568
Overview
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IDX Search 
$840,000
Townhouse
Main Features
3 Bedrooms
2 Full Bathrooms
1 Half Bathroom
Interior: 1,923 sqft
Year Built: 2008
Location
6526 Sierra Ln
Dublin, CA 94568
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 

Listed by: Doug Buenz

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Homes in Pleasanton CA

SOLD! 1912 Toyon Ct, Pleasanton, CA 94588


SOLD! 1912 Toyon Ct, Pleasanton, CA 94588
Overview
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Photos
Market Stats
IDX Search
$2,228,000
Single Family Home
Main Features
5 Bedrooms
3 Full Bathrooms
Interior: 3,824 sqft
Lot: 0.87 acre(s)
Year Built: 1993
Location
1912 Toyon Ct
Pleasanton, CA 94588
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 

Listed by: Doug Buenz

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Pleasanton CA Homes

SOLD! 4380 Entrada Drive, Pleasanton, CA 94566


SOLD! 4380 Entrada Drive, Pleasanton, CA 94566
Overview
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Market Stats
IDX Search
$1,050,000
Single Family Home
Main Features
3 Bedrooms
2 Full Bathrooms
Interior: 1,249 sqft
Lot: 9,088 sqft
Year Built: 1955
Location
4380 Entrada Drive
Pleasanton, CA 94566
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 

Listed by: Doug Buenz

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Home in Pleasanton CA

SOLD! 3623 Cameron Ave, Pleasanton, CA 94588


SOLD! 3623 Cameron Ave, Pleasanton, CA 94588
Overview
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Market Stats
IDX Search
$2,195,000
Single Family Home
Main Features
4 Bedrooms
3 Full Bathrooms
Interior: 3,410 sqft
Lot: 0.92 acre(s)
Year Built: 1979
Location
3623 Cameron Avenue
Pleasanton, CA 94588
USA

Doug BuenzDoug Buenz

Venture | Sotheby’s International Realty
(925) 621-0680
doug@680homes.com
http://www.680homes.com

        

 

Listed by: Doug Buenz

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