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So 20% is acceptable, how about 21% below? What if the house with FMV was 500k but the owner wants 1M and advertised 900k+ and they got an offer of 600k or even 470k? I am only stirring (I agree with you it is stupid) but what the act says is that all offers need to be present unless...

what if the vendor hasn't knocked back any offer before? say they want 500k and you got an offer of 450k is that classified as to low? What if the vendors were desperate to sell and would take the 450k now on unco and 30 days (which is the offer you have) but instead you rejected it? If...

If the vendor has given written instructions not to bring offers below say 400k (wanting 500k) and someone offers 398k they REA doesn't need to bring it to the vendor. The agent will be able to reject the offer based off the written directions by the vendor and they do not need to present the...