As I mentioned in another thread I started, I am selling my house without a broker. Since this is 1st home that I bought and now am selling, I am new on the proper rules that one should follow. I started speaking to a few neighbors about my intention.
A neighbor brought over a buyer that met the price I was asking. He gave me a large deposit check which I haven't cashed yet. There was no written agreement. I was happy with the deal at that time. The following morning, a 2nd buyer knocked on my door and was interested in my house too. He voluntaired to up the price by $30k. I contacted the 1st buyer and he matched the increase. I then contacted the 2nd buyer he again up the price by $30k but said he would not go any further.
Who should get the sale, the 2nd buyer who was willing to increase the price or the 1st buyer who only matched the price?
A neighbor brought over a buyer that met the price I was asking. He gave me a large deposit check which I haven't cashed yet. There was no written agreement. I was happy with the deal at that time. The following morning, a 2nd buyer knocked on my door and was interested in my house too. He voluntaired to up the price by $30k. I contacted the 1st buyer and he matched the increase. I then contacted the 2nd buyer he again up the price by $30k but said he would not go any further.
Who should get the sale, the 2nd buyer who was willing to increase the price or the 1st buyer who only matched the price?