Jump Bid
_________________________,
referred to herein as Customer offers to buy from _________________________,
referred to herein as “Seller”, the following:
Item:
___________________________________
Price:
$______________________________ plus $ ______________ over a firm offer in
writing from a legitimate buyer, unrelated to Owner. The other offer must be attached as Exhibit
1.
Terms:
__________________________________
This is a firm offer
under Section 2-205 of the Uniform Commercial Code and will remain open for 30
days from date of making except that Buyer reserves the right to reject the
final price agreed upon by Owner’s other customer, with or without cause.
By
_______________________________________________________
Buyer
Dated:
__________________________
The offer made by Buyer
is accepted, and the following order entered as is provided in the offer.
___________________________________________________
Owner
Dated:
__________________________
Jump Bid
Review List
This review list is provided to inform you about this
document in question and assist you in its preparation. A Jump Bid document is often used to obtain a
one of a kind product such as an antique car, land, a house, or similar such
object. It is a useful approach for the
buyer if accepted in whole or even if you receive a counter bid in return. It is also helpful for the seller’s agent
because they have all terms in writing and can use it to boost other offers
made to them.
1. Make multiple copies. Give one to the signatory and another for the
potential seller.
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