"Seller's Direction" Form 244 - Holding Offers

Wednesday Apr 29th, 2020

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Prior to COVID-19, "back in the day when we had Open Houses", often consumers were savvy and would ask the listing agent if there was an "offer date" or if they were "holding offers".  This a great question from a motivated, interested buyer.  A listing can have details in the Realtor remarks indicating an "offer date” which is not normally public information on realtor.ca.  This language is actually only relevant if Form “244” is signed, directing the listing agent to NOT convey any offers until said date and time.  Now, here's where it gets convoluted.  This form, signed by the seller directing the listing agent, could also say "no conveyance of offers until but reserves the right to review any preemptive offers".  This is the seller saying, "hey we want to look at all offers on a certain day but if a really great offer comes in, we'll look at it."  

So what do you do as a buyer? As your agent, representing your best interest, it's my job to strategize the best offer presentation.  In doing so, I'll speak with the listing agent, learn as much as I can about the seller's motivations, the showing activity on the property and will make suggestions to you, based on your goals and motivation with said property. After I've presented you with all the facts, I'll take your direction as to how you'd like me to proceed.  

Strategy: this is ever changing.  There are so many variables that influence our approach to offers.  Each and every time, I'll discuss our options.  Considerations include, but not limited to: type of market (seller’s or buyer’s), days on market, activity on listing, listing price in comparison to comparable properties and your motivation.

  • Note: Form 244 can be used for any direction a seller gives their listing agent.  This can range from specific showing instructions, buyer requirements, deposit, offer date etc.

Do you have questions? Email me!

 


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