Quote:
Originally Posted by Mark17
Why is it then, that thousands upon thousands of real estate transactions settle at amounts greater than the listing price? I'm sure many of them include the material terms of sale (as-is, up-front deposit, balance at close, buyer pays normal buying fees, title transfer, etc.)
Some real estate transactions involve millions of dollars. Why don't we hear of widespread lawsuits, and why would the transaction price ever be higher than the list price? According to you, first buyer to offer full ask gets it, period. No need for him to go above that figure, and futile for a subsequent offer.
Or does the law trteat real estate as a separate animal (and if so, why?)
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For a multitude of reasons, one cannot compare the contractual process, including the legal rights and duties, of selling a home to selling a baseball card. Obviously, a home and any sale of a home are much more complex transactions. Hence, an MLS listing is generally not an offer but information about a home that is treated as an invitation to make an offer.