A race to contract

[IronMaiden]

Hi all, I found this site through Google. I have an accepted offer on a condo in NYC. However, there was a previous accepted offer which is taking a while to get the contract signed because they are nitpicking (this is according to the broker). So now it seems I'm in a race to sign a contract before them. Assuming the other offer actually exists, can the seller choose me over the other offer even if they sign before me? Or must the seller go with whoever signs first? According to the broker, we are the more attractive offer. I really appreciate any input on this. Thanks everyone.

[Amy]

The seller doesn't have to go with the previous offer if it is not officially accepted AND signed by both parties agreeing to the terms and conditions. Since the seller is still taking offers, it could mean that the previous offer is still in the phase of negotiating.

An offer is an initiative to do something, until the seller accepted and signed the sales contract in black and white with someone, you still have a chance to get the condo. Yes, the seller can choose you over the other offer.

But if the seller has accepted and signed the sales contract, then the contract is binding and the seller should not be still considering other offers.

By the way, your offer should have a stated time frame (usually one or two days) for the seller to respond to you so that you won't be dragged into a race, wasting your time,... and can move on to another opportunity.

Good luck!!

[IronMaiden]

Great - thanks Amy!