I'M FUMING!
I am really fuming right now. I had submitted a cash offer on an REO on 11/20. My realtor found the property and submitted the offer to the listing agent. back on 11/20. My agent is new in the business, I do work with several, but wanted to give a "newbie" some bus too. I was just told today that the property is going to closing! My agent following up a ton and kept me informed. I am writing a letter to the listing agent right now. I talked with my attorney and my attorney advised me to let him know that I plan on forwarding this issue to the Board of Realtors.
Not sure what you are upset about. The seller is under no obligation to respond to your offer. (Even if it was full price.)
Your agent works for you ( I assume) and you say he made the offer and followed up. So no problem with him.
The problem seems to be that there was another offer that was better in some way. The sellers agent may have been following instructions of the seller.
By REO I assume your seller was a bank.
Sounds like communication was poor to your agent from sellers agent, but with the facts you have given I see no basis for a complaint to the real estate commission.
Remember, you have no idea what instructions were given by the bank to his agent.
Gregg
_________________
Gregg Fous
Investor/Developer
"Under-promise and over-deliver"[ Edited by GFous on Date 01/03/2004 ]
Yeah,
The fact that you are upset is pretty clear.
About what is what I cant understand.
The only argument it seems that you might have is if you are suggesting that the broker never presented your offer to the seller.
Find out what the buyer is paying. IF his offer is higher you dont have a leg to stand on. Brokers can accept an offer from a person that they feel is more likely to succesfully close, even if their offer isnt the highest.
More money down or offered a quicker closing or his credit is better, (you get the point)
Good Luck,
N.
Thanks for the clarification. I did not realize that when you put in an offer that the seller's agent does't need to respond, even if the bank says no, don't want to consider, etc. etc. I thought it would be a good practice in that profession that the seller's agent respond by saying as much.
Also, my offer was for cash and a fast closing.
Thanks for a the feedback.
Often the bank will not respond. They simply file the offer in the circular file. When this happens the agent has nothing to tell you.
I had one bank take three months to respond one time.