3 Contracts Sent Out For Same Property

if the bids are all close to one another, and of similar quality, and if this is what the seller advised their attorney to do, there is nothing unethical about it. Shady, ehh, I guess a bit. Unusual, sure. But with markets selling off, the seller likely wants to keep the urgency on the buyers to get the deed done.

how about a buyer getting 3 contracts, making everyone run around to make the April 30th deadline. not telling anyone what they're doing. 2 of the contracts in the same building and using the documents from one to do due diligence on another. what is that considered?

digs- unfortunately for me, I knew that this approach would alienate my client. It did. Dead deal.

nyfineman, I wouldn't have a problem doing this. I think as long as every buyer is in the loop, and therefore you have a level playing field, it's ethical.

ali r.
DG Neary Realty

Definitely shows lack of good faith from the seller. If I were the buyer, I'd walk away, too, regardless of what kind of deal I could get. Rushing the diligence/contract process is not cool, and neither is spending several thousand dollars to have a one-in-three chance of getting the apartment.

ugh, sorry nyfineman. I have a feeling many buyers would do the same, especially with markets selling off. Doesnt seem like the right 'time' for seller broker or seller to handle in this manner.

Thanks digs, no sweat. There are plenty of apts out there and I have a terrific client. There were a few past "misstatements" on the part of the selling broker which made my client leery and when they had a legit concern and the answer was not to address the issue but that they were sending 3 contracts out (run!run!), it came off as somewhat used car lot. If they were intentionally trying to cover a flaw it would be unethical, but either way, it came off as shady.