Does The Seller Have To Negotiate With All Parties in A Multiple Offer Situation In Charlotte, NC.?

I have not been selling Real Estate for 20 years and heck not even 10 years. But I have been involved in a good many sales transactions and have put my fair share of offers in on homes. Last week I came across one that I have not seen or heard of before. A multiple offer situation where the seller asked to negotiate with just one of us and told the other party they were negotiating with them first. I had a client look at a house that had been on the market for a week or so. They decided to put an offer in on it once we viewed it. i contacted the listing agent ( like I always do) and informed her of my clients intentions and when to expect the offer. She informed me that they were negotiating another offer right now but had not agreed to terms yet. And asked that I not delay in getting in the offer since the seller may not wait on a wish for another offer. I went back to the office talked to my clients and pulled the comparable and advised them what I felt was a fair price on the house. Explained that the seller was negotiating another offer right now but has not accepted it yet. That got aggressive with their offer right off the bat. A strong offer in my opinion. I presented it to the listing agent and she said she would let her seller know since they were still negotiating. I asked her if she was going to come out and ask for highest and best offer and she said "let me talk to my sellers". Well after talking to the sellers they decided to give the first buyer one last chance to accept the offer the seller wanted for the house...if the buyer did not accept the offer in the time frame requested by the seller then the seller would accept our offer as it was written... i said really? You do not want both parties to come back with highest and best offers? She said NO. Seller feels it is only fair to give the first buyer ample time to reply to his last counter offer before saying thanks but we cannot do business and moving on to the next. Part of me was excited that there was a human being out there that had a moral standard. I would not have done that and asked for highest and best offer from both parties. But I respect that. I did some research and there is no law that requires a seller to negotiate with both parties or ask for highest and best offers in North Carolina. In fact it is completely up to the seller to decide how they want to proceed and with whom if anyone they want to pursue a contract with....Just because you are in a multiple offer situation does not mean you are going to get another chance or any chance to negotiate with the seller....This is a key factor that could factor in you getting a house or not getting a house... Dave diCecco Realtor/Broker Coldwell Banker United Cell:704-519-7895 ddicecco@cbunited.com www.davedicecco.com