Q: What are the DOC’s regulations pertaining to offers?

A: All written offers to purchase shall be promptly submitted in writing to the seller. Any delays other than those dictated by the circumstances of the parties or the transaction (i.e. one party is out of town) runs the risk of violating this Commerce Department Rule.

Licensees shall not disclose the terms of an offer to another prospective buyer or the buyer’s agent prior to the presentation of the offer to the seller.

For more real estate Q and A’s visit the Desktop Reference Guide!

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry. 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s