Can a Seller accept a Sight Unseen offer on a listing that is in Temp Off Market status?
A Seller can accept
an offer on a listing that is currently in ToM status and not be in violation
of any compliance rules or regulations. The house is the property of the Seller, so if they want to
receive and accept an offer at any point in their ownership of said property,
that is a right granted through said property ownership. If a Buyer wants to
submit an offer without viewing it in person, that is their right as a Consumer
and they assume any risk associated with that practice. There is no obligation
to physically tour a property before entering a transaction.
Related Articles
Pre-Market Status
Using the Pre-Market Status allows contractual protection between the Listing Broker and the Seller, while allowing the Seller time to prepare their property to be available to the public. It also ensures that if the listing happens to be marketed ...
Types of Status Disclosures
Status Disclosure Definition a. First Right of Refusal: Parties have completed the “Addendum to Purchase Agreement - First Right Contingency” form, which allows the property to remain on the market. The listing is set to include the Status Disclosure ...
Withdrawn Listing Application
A listing may be Withdrawn from the service when a Mutual Release from Listing Contract has been executed between the sellers and the listing broker, as noted in the IAR form (Option B). "Seller and Broker agree to withdraw the Property from the ...
How Do I: Edit a Status Disclosure
First, review these status disclosure definitions to ensure you are choosing the correct one for your listing. a. First Right of Refusal: Parties have completed the “Addendum to Purchase Agreement - First Right Contingency” form, which allows the ...
Listing Price or Status Change
To change a Price or Status of one of your listings, begin by clicking My Listings/Transactions from the My BLC Home Page. Click the Pencil icon next to the listing that you want to change. Select Edit Listing Status or Edit Listing Price. When you ...