Agency
In NJ, a listing agent who receives an offer on behalf of the seller that includes a financing contingency should advise the seller to:
AAlways reject offers with financing contingencies
BEvaluate the strength of the buyer's pre-approval letter, the likelihood of financing being obtained, and decide whether to accept, counter, or reject based on those factors✓ Correct
COnly consider cash offers
DAccept any offer since NJ requires all offers to be presented
Explanation
A listing agent should advise the seller on the risk and likelihood of a financing contingency being satisfied, considering the quality of the buyer's pre-approval, lender reputation, and current market conditions—helping the seller make an informed decision.
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