Is email offer to buy binding? OK to offer on 2 contracts same time?

ldo

DIS Veteran
Joined
Apr 13, 2007
If DVC is listed with a broker for $xxx and I email an offer of $yyy, if the seller accepts my offer, am I committed at that point? Or is it only after the written contract with terms, etc. and deposit? Also, if there are 2 contracts with the same agent, is it OK to offer $yy for DVC #1 and if not accepted $zz for DVC #2? I'd be ok with either, but might lowball on both. Or do I need to wait for #1 before #2?
 
Last edited:

MICKIMINI

Love the Mouse!
Joined
Sep 6, 2003
Perhaps other offers came in after yours and those buyers were told an offer had been "accepted" and then moved on. The owner of the contract has now lost out on your "offer" and possibly other potential offers. I've seen differing opinions on this subject discussed here, however an email offer is like a handshake agreement IMHO.

Just my two cents...
 

CSLucas

Mouseketeer
Joined
Feb 9, 2019
If DVC is listed with a broker for $xxx and I email an offer of $yyy, if the seller accepts my offer, am I committed at that point? Or is it only after the written contract with terms, etc. and deposit? Also, if there are 2 contracts with the same agent, is it OK to offer $yy for DVC #1 and if not accepted $zz for DVC #2? I'd be ok with either, but might lowball on both. Or do I need to wait for #1 before #2?
I did time limits on all my offers, same as you do for a house. While it is certainly not binding until a contract has been signed (and even then you have 10 days to walk away), I think you should only have one offer at a time. Of course, if you find a better deal before they accept your offer then you can always withdraw your offer and go for the other one
 

Theta

DIS Veteran
Joined
Dec 30, 2007
IMO, this is a "Do unto others". Why not put a time limit on your offer, such as 24 hours? Make another offer after the time expires.

Do you just write a time limit on the form when you put in an offer?

I haven't bid on any contracts yet, do most people complete the online form or email to make offers? Is there a place on the online form to put a time limit on the offer?
 

CSLucas

Mouseketeer
Joined
Feb 9, 2019
Do you just write a time limit on the form when you put in an offer?

I haven't bid on any contracts yet, do most people complete the online form or email to make offers? Is there a place on the online form to put a time limit on the offer?
When I did it, I just called the broker after filling out the form and let them know when the offer would expire. I think most brokers don't submit the offer until they have actually talked with you and confirmed the details anyways.
 

ldo

DIS Veteran
Joined
Apr 13, 2007
thanks, I made an offer valid until 5pm tomorrow, which also gets agent to hustle.
 

DVC Doctor

Member since 2001
DVC Gold
Joined
Mar 19, 2014
If DVC is listed with a broker for $xxx and I email an offer of $yyy, if the seller accepts my offer, am I committed at that point?

nope

Or is it only after the written contract with terms, etc. and deposit?

Correct

Also, if there are 2 contracts with the same agent, is it OK to offer $yy for DVC #1 and if not accepted $zz for DVC #2?

Yes


I'd be ok with either, but might lowball on both. Or do I need to wait for #1 before #2?

Common courtesy with a broker will probably only make one offer at at time. Also this is a sellers market and the broker may ignore your "lowball" offers and focus on another more serious buyer so this method may backfire if it is a really desirable listing.
 

DVC Doctor

Member since 2001
DVC Gold
Joined
Mar 19, 2014
thanks, I made an offer valid until 5pm tomorrow, which also gets agent to hustle.
This is a good concept, but I doubt it will have any effect on an agent hustling or not. Good brokers provide good service to both parties and with the market being hot now, EVERY DVC listing at attractive prices will sell fast and may have multiple offers from multiple buyers. It really will have no effect other than making your offer LESS attractive than others and the broker may soon ignore you.
 

RoseGold

DIS Veteran
Joined
Jan 21, 2020
Even if it were a signed and done offer, you'd still be able to back out in the days listed in the contract. That's the deal everyone agreed to.
 

MegMoves

From Planning to Owning in one Pandemic
Joined
Mar 14, 2021
This is really interesting and I've been wondering this, too.

Legally, nothing is binding until there's a signed contract with money exchanged, and even then - you still have 10 days to back out.

Ideally, if you make multiple offers and one accepts, you should email the broker and rescind the other offer, so it can be available for others to buy ASAP.

I'm just now pulling the trigger on making offers after years of research - I wish I'd done it sooner, so I'm rather impatient now. I like the idea of listing a time limit on offers - that seems fair.
 

Connect

TODAY'S HEADLINES

Top