Comments on: What are the laws for selling real estate in South Dakota? http://www.bankruptcy-help-resources.com/what-are-the-laws-for-selling-real-estate-in-south-dakota/ Quick Answers to Bankruptcy Questions & Understand How Bankruptcy Laws Affect You Thu, 03 Dec 2009 17:06:21 +0000 hourly 1 http://wordpress.org/?v=3.1 By: acermill http://www.bankruptcy-help-resources.com/what-are-the-laws-for-selling-real-estate-in-south-dakota/#comment-1711 acermill Tue, 25 Aug 2009 12:19:09 +0000 http://www.bankruptcy-help-resources.com/what-are-the-laws-for-selling-real-estate-in-south-dakota/#comment-1711 Any seller is never obligated to take any offer, no matter how much over the asking price is offered. The bankruptcy trustee is charged with getting as high a sale value for the property as possible. Since you have already offered more than the asking price, they are waiting to see if someone (or you) will offer even more. I was recently involved in a brokerage attempt in a similar situation. The property was listed for $175,000. I advised my client that the property was seriously underpriced and he agreed to offer $190,000. The offer was not immediately accepted, and the eventual sale price was $195,000, to a different buyer. Any seller is never obligated to take any offer, no matter how much over the asking price is offered. The bankruptcy trustee is charged with getting as high a sale value for the property as possible. Since you have already offered more than the asking price, they are waiting to see if someone (or you) will offer even more.

I was recently involved in a brokerage attempt in a similar situation. The property was listed for $175,000. I advised my client that the property was seriously underpriced and he agreed to offer $190,000. The offer was not immediately accepted, and the eventual sale price was $195,000, to a different buyer.

]]> By: realtynewsman http://www.bankruptcy-help-resources.com/what-are-the-laws-for-selling-real-estate-in-south-dakota/#comment-1710 realtynewsman Mon, 24 Aug 2009 23:38:28 +0000 http://www.bankruptcy-help-resources.com/what-are-the-laws-for-selling-real-estate-in-south-dakota/#comment-1710 You want the South Dakota Real Estate Commission, but, for some strange reason you have to sign up to get onto that state's Web site. Very strange. Anyway, I know of no real estate laws that dictates what offer anyone has to accept. AFTER a contract is signed there are some binding issues, of course, but until that contract is signed, everything remains negotiable. Money doesn't always talk. You want the South Dakota Real Estate Commission, but, for some strange reason you have to sign up to get onto that state’s Web site. Very strange.

Anyway, I know of no real estate laws that dictates what offer anyone has to accept. AFTER a contract is signed there are some binding issues, of course, but until that contract is signed, everything remains negotiable.

Money doesn’t always talk.

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