Each Bank has different servicing guidelines they adhere to when responding and managing offers. Some have a specific amount of days they will wait once the property is listed before they entertain any offers.
When multiple offers are received on the same property, the Bank will most likely request "Highest and Best" from all Buyers. They may also accept offers as they come in with or without countering to each Buyer for their "Highest and Best" offer.
The Buyer’s agent will receive an email to log into their DispoSolutions account. Once the Buyer's agent logs in, agent will be able to revise offer terms and “Submit with changes” or can cancel the offer by clicking Reject/File Offer.
The Bank has the right to accept, reject or counter any offer.
The Bank may accept your offer, but until the offer is signed and fully executed, the buyer does not have a valid contract.
For more information please contact the Listing Agent.