New York, NY asked in Real Estate Law for New Jersey

Q: It is normal to sign " Sale Contract" to make offer without negotiation the price by seller. ?

I found a home to purchase. My Realtor asked me to sign " Sale Contract" and said that it is price offer. I refused to signed. I asked him to negotiate price first. He said it is "Standard Practice" to sign sale contract to make offer the price. Is it true? So for how many homes, how many times do I need to sign the sale contract to make offer?

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1 Lawyer Answer
William N. Sosis
William N. Sosis
Answered
  • Hackettstown, NJ
  • Licensed in New Jersey

A: The standard practice is for back-and-forth negotiations to start with a signed contract. Real estate agents generally only discuss signed offers with the seller. However, I am not clear if you were asked to present a signed offer that was higher than you are willing or able to pay. If that's the case, then you were correct in refusing to sign the sales contract. Also, you should only be making one offer for one home at a time. An offer on a second property should never be made until your first offer has been formally declined.

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