What form is used by sellers to entertain a second offer?

The correct choice, which indicates the form used by sellers to entertain a second offer, is the Notice of Receipt of Another Offer. This document is important for the selling process as it serves to inform the interested parties that another offer has been received for the property in question.

When a seller receives a subsequent offer after an initial offer has been made, this form is key to maintaining transparency and allowing the seller to consider all potential offers. It notifies the original buyer that their offer is not the only one on the table, and it gives them the opportunity to either improve their own offer or accept the competition.

Other forms, while related to the buying and selling process, serve different purposes. For instance, the Agreement of Purchase and Sale is a comprehensive document that outlines the terms of a completed transaction rather than indicating a status of competing offers. The Notice of Intent to Sell relates to the seller's decision to market their property but does not address the specifics of handling multiple offers. Similarly, the Confirmation of Offer Receipt is used to acknowledge that an offer has been received but does not specifically relate to the process of handling multiple or subsequent offers.