FAQs
A home seller can always reject an offer that they don't think reflects the value of their real property. Even if the offer is above the listing price, the seller has the legal right to deny the offer and accept a higher sale price.
What happens if a seller rejects your offer? ›
Typically, when a seller rejects your offer they come back with a counteroffer to potentially negotiate a deal what works better for them. If your offer is rejected without counter, it might mean that your offer was too low to be considered by the seller.
What happens if you win a bid but don't want it? ›
By bidding on an item, you obligate yourself to pay for the item if you win it, even if you decide you no longer want it. Only bid on items you are serious about purchasing.
Can a seller cancel an auction after winning? ›
One cannot always tell from the sold or completed item history, if the seller's items being relisted was because they cancelled an auction, or their buyer(s) did not pay, that too happens. A seller cancelling a won auction is not legal by ebay rules or by law.
Can a seller decline a full price offer? ›
Because no one can force a seller to sign (contracts must always be signed freely and without undue influence to be binding), a seller doesn't have to accept even a supposedly "perfect" offer.
Can you back out after winning a bid? ›
If the winning bidder would like to back out after the close of the auction, you can offer the item to the next highest bidder, or close the item as Not Sold.
Is a bid legally binding? ›
A bid is considered an offer under contract law. If an offer is accepted, a contract is established and becomes legally binding. The provider can't withdraw their offer.
Can a seller remove your bid? ›
As a seller, there are some situations where you can cancel bids that have been placed on your auction-style listings. However, once canceled, a bid can't be reinstated. To try to prevent potential buyers from being disappointed, we discourage the canceling of bids unless absolutely necessary.
How long do you have to pay a bid after you win it? ›
The short answer is four days. As of 2022, eBay has rolled out a new rule that states all unpaid items must be settled within four days from the time that the buyer has finalized the order or has won the auction.
Can a seller back out of a bid? ›
A seller can cancel any bid at any time before the auction ends. A bidder can retract their bid if the auction has more than 12 hour left.
Bottom line. “Generally, a seller can't cancel without cause,” Schorr says. “You could build in some contingency, but absent that, you had better be committed to the sale.” Reneging because you fear you underpriced the house, or you actually receive a better offer, doesn't count as “cause.”
What happens if you win an auction and can't pay? ›
You're liable for the deposit on auction day and the rest of the purchase price, plus fees, by the completion deadline (typically 28 days after the auction). If you can't pay the deposit, you may face legal consequences. The auction house and seller can demand that you pay the amount specified in your contract.
Can a seller block you from bidding? ›
eBay sellers have control over who can bid on and buy their items. You can block individual buyers or set buyer requirements based on specific criteria.
Can you refuse to pay a winning bid on eBay? ›
Tried to cancel. If you don't pay, 96 hours from the end of the auction the seller can cancel the transaction citing buyer didn't pay. You will get an unpaid item strike placed against your account.
Do eBay sellers have to accept winning bid? ›
YES, you are required to sell to the winning bidder of an auction since their bid met your minimum bid price that you set when you listed the item.
Can a seller cancel a bidders bid? ›
As a seller, there are some situations where you can cancel bids that have been placed on your auction-style listings. However, once canceled, a bid can't be reinstated. To try to prevent potential buyers from being disappointed, we discourage the canceling of bids unless absolutely necessary.