Legal Question in Real Estate Law in Wisconsin

Can I accept a secondary offer that is higher?

I have rec'd a secondary offer on my home that is $900 higher and the buyer would like to close in 30 days (which I would like better) than the primary offer is 60+ days out. It seems that my contract favors the buyer, and he is ''locked in'' until his close date. I feel like a hostage to his contract. Can I somehow accept the secondary offer Or is it too late. should I have had my attorney made the acceptance clearer? Help me in WI


Asked on 3/15/07, 9:43 pm

1 Answer from Attorneys
JAY Nixon nixon law offices

Secondary Offers in Real Estate Sales

You need to direct this question to your attorney. There are methods of accepting offers to purchase real estate which can allow the acceptance of secondary offers, but the secondary offer generally comes into play only if the first offer does not progress toward closing as promised. It is also possible to attempt negotiations with the holder of the first accepted offer, i.e., to offer to pay him in return for his relinquishing of his rights in favor of the secondary buyer.

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Answered on 3/18/07, 5:04 pm


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