Legal Question in Real Estate Law in Arizona
I just submitted a full price cash offer for a home in Arizona. I received no other explanation as to why my offer was not accepted, nor was I given the opportunity to counter offer. All forms were filled out correctly and proof of buying finances were submitted. I feel this is an ethic violation. What is your opinion?
2 Answers from Attorneys
A seller does not have a duty to tell you why he does not accept your offer. It is customary that an offer has an expiration date and the seller can just let the offer expire without a response. Therefore, there is nothing to "counteroffer to." If you think the real estate agent(s) violated some ethical rules, you can complain to the AZ Dept. of Real Estate.
A seller has a right to reject an offer to buy the property, just like any other offer. Unless the seller rejected your offer based upon some prohibited form of discrimination, there really is no ethical violation. Because the offer was either ignored or rejected, there is no point in making a counter offer. Perhaps they had an offer above their asking price and chose it over your full price offer.
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