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Do You Document Rejected Offers?

Do You Document Rejected Offers?

posted: 08/06/2018

When your seller rejects an offer or offers, do you comply with license law and document that rejection? 

License Law – Rule 3.1 H
When an offer is made on property owned by a party with whom a broker has entered into a listing agreement, such broker shall document and date the seller’s personal acceptance or rejection of the offer and upon written request, shall provide a copy of such document to the person making the offer.

Translation:  Listing brokers/agents should document and date the seller’s rejection of an offer and provide a copy of that dated rejection to the buyer if requested in writing.