Seller-Initiated Offers: What to Do Instead

Q: On a long-standing listing, my seller wants to make an offer directly to an interested buyer, including special terms and personal property. Is there an OREF form for a seller-initiated offer?

A: OREF does not have a form for sellers’ offers. This is because we believe such a form would be rarely used and isn’t technically necessary. If your seller would like to offer special terms to a specific buyer, we recommend obtaining written authorization from them, either via email or another written confirmation, specifying the buyer’s name and the specific terms they’d like to offer. Then you can simply contact the buyer’s agent and let them know you’ve been authorized to notify their buyer of these special terms, and your seller would very much appreciate an offer from them. Trying to reverse the process and having the seller write up an offer to sell to the buyer would create a number of additional complications, such as not having the information on the buyer’s financial terms, lender, pre-approval letter, inspection requirements, and other such information. We believe it’s best to let the buyer make the offer, and in your case, including those specific terms offered to them by the seller.

All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.