Q: Can home seller raise the asking price after a full price offer has been made? No other offers have been made
Seller has not accepted or turned down our full price offer, but now wants to raise the asking price.
A:
Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.
So long as the seller is not bound by a sales contract, the seller may be able to change the asking price. The statute of frauds requires that a contract for the purchase and sale of real estate be in writing and signed by both the purchaser and the seller. Be sure to consult your own attorney to protect your legal rights.
A: I assume that you first made an offer as the buyer to purchase the property. The seller can send you a counter offer with an increase in the price of the property. These are all negotiations but you can either agree or send a counter offer back to the seller.
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