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laborday06
LIF Infant
Member since 6/05 166 total posts
Name:
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total BS...is this legal
Just wondering if this is legal, cause me and the FH are totally BS about this situation.
Three offers were put in on a house. Only one was presented to the seller because it was a cash deal. I found out because the neighbor of the owner selling the house (owner moved out a month ago) put the owner in touch with us since we had some questions that the real estate agent didn't answer.
The owner had no idea about the other offers. The owner was BS that not all offers were presented because the two offers that weren't a cash deal were never even presented to them.
Just wondering if this is legal for a real estate company to only present one offer?
Oh and i never signed anythign with the real estate agent who showed us the house...can we do a for sale by owner if the owner is interested? The owner is BS at the real estate company and asked us if we would be interested if it was legal.
Message edited 10/20/2005 1:37:42 PM.
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Posted 10/20/05 1:36 PM  |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
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Re: total BS...is this legal
Were all three offeres for the same amount of $ or was the all cash offer way more than the other two offers?
I take it that your offer was not presented to the seller? Have you spoke with the real estate agent?
ETA: The real estate agent must present the seller with all offers and what the amount of the offers are for and any of the contingencies of the offer.
Message edited 10/20/2005 1:43:44 PM.
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| Posted 10/20/05 1:39 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: total BS...is this legal
TOTALLY illegal.
by LAW - ALL OFFERS ARE TO BE PRESENTED TO THE SELLER!!! PERIOD!
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| Posted 10/20/05 1:40 PM |
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BrunetteMom
LIF Adult
Member since 8/05 1480 total posts
Name:
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Re: total BS...is this legal
Posted by MrsERod
TOTALLY illegal.
by LAW - ALL OFFERS ARE TO BE PRESENTED TO THE SELLER!!! PERIOD!
Ditto!
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| Posted 10/20/05 1:43 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: total BS...is this legal
How do you know the other offers besides the cash offer even really existed?
Are you saying that you made an offer to the RE agent and the owner has no knowledge of that? If thats the case... then yeah thats illegal.
But if a RE agent says there were 10 other offers on the property to you... and in reality there wasn't... that really isn't illegal because there were never any real offers in the first place to present to the seller.
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| Posted 10/20/05 1:54 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: total BS...is this legal
Posted by DjPiLL
How do you know the other offers besides the cash offer even really existed?
Are you saying that you made an offer to the RE agent and the owner has no knowledge of that? If thats the case... then yeah thats illegal.
But if a RE agent says there were 10 other offers on the property to you... and in reality there wasn't... that really isn't illegal because there were never any real offers in the first place to present to the seller.
i just re-read what the OP said...
Message edited 10/20/2005 2:14:56 PM.
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| Posted 10/20/05 2:13 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: total BS...is this legal
Posted by MrsERod
i think what she's saying is that she found out thru the seller himself that HER offer was never even presented! totally illegal!! 
Yeah that would be wrong. Who do you complain to in this scenario?
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| Posted 10/20/05 2:14 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: total BS...is this legal
Posted by DjPiLL
Posted by MrsERod
i think what she's saying is that she found out thru the seller himself that HER offer was never even presented! totally illegal!!
Yeah that would be wrong. Who do you complain to in this scenario?
now i'm not sure if it was HER offer, or someone elses??? 
eta: a complaint would have to be filed with LIBOR.
Message edited 10/20/2005 2:16:35 PM.
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| Posted 10/20/05 2:16 PM |
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laborday06
LIF Infant
Member since 6/05 166 total posts
Name:
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Re: total BS...is this legal
Posted by DjPiLL
Posted by MrsERod
i think what she's saying is that she found out thru the seller himself that HER offer was never even presented! totally illegal!!
Yeah that would be wrong. Who do you complain to in this scenario?
I spoke with the owner on the phone. Only one offer was presented to the seller the cash one for the least amount of money. Our offer was 8K higher and the other offer was 5K higher. Making us the highest bidder.
The two offers that needed a mortgage were never presented at all. The agent was really weird with our offer and wouldn't let us (or the other offer needing financing) put it on paper, which now we are glad. If we had put the sales offer on paper, we could only work through the RE. The owner called me and wants to work out a deal on the side if possible since we never signed anything with the agent or signed a sales offer.
The owner also mentioned that she called the RE agent to see what the deal was w/o mentioning anything about us specficially. She was told there was other offers on the table, but only cause she called. Sneaky Sneaky...such a dirty business.
The owner then said they found their own buyers (meaning us) and may want to do their own FSBO. The RE agent told her if she wanted to do a FSBO, that since they signed a contract they have to pay a certain % to the RE, but not as much as if the deal went through them totally.
I'm just waiting to hear back if we can assume their mortgage to speed the process along a bit. The owner currently has a mortgage through the same bank we were using, so it could go very smoothly.
This is so stressful! This would be the second house we got screwed by a RE on. Last time our offer wasn't presented either until 2 days after the contracts were signed. It "sat" on someone's desk by mistake. It turns out the people that bought the house knew someone at the RE agency and they had the same offer as us.
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| Posted 10/20/05 2:36 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: total BS...is this legal
You won't be able to assume that person's mortgage. If the seller had an assumable mortgage (spelled out in her mortgage contract)... believe me she would be well aware of this. Assumable mortgages are VERY rare... and almost extinct.
I would tell the owner to screw the RE agent completely. She should own the agent NOTHING in this case. Even if she had the 2% owed to the agent if she sells FSBO... have the agent take the seller to court for that.
The agent acted improperly in this case and that should be enough for a breach of contract.
Of course the agent will defend this saying there was no "official" offer to present since no binder was signed. So it could go either way.
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| Posted 10/20/05 2:47 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: total BS...is this legal
Posted by DjPiLL
You won't be able to assume that person's mortgage. If the seller had an assumable mortgage (spelled out in her mortgage contract)... believe me she would be well aware of this. Assumable mortgages are VERY rare... and almost extinct.
I would tell the owner to screw the RE agent completely. She should own the agent NOTHING in this case. Even if she had the 2% owed to the agent if she sells FSBO... have the agent take the seller to court for that.
The agent acted improperly in this case and that should be enough for a breach of contract.
Of course the agent will defend this saying there was no "official" offer to present since no binder was signed. So it could go either way.
you took the words out of my mouth. this agent worked VERY UNETHICALLY, and at the very least, should be reprimanded. i would make a complaint to his/her manager.
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| Posted 10/20/05 2:52 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: total BS...is this legal
Posted by MrsERod
Posted by DjPiLL
You won't be able to assume that person's mortgage. If the seller had an assumable mortgage (spelled out in her mortgage contract)... believe me she would be well aware of this. Assumable mortgages are VERY rare... and almost extinct.
I would tell the owner to screw the RE agent completely. She should own the agent NOTHING in this case. Even if she had the 2% owed to the agent if she sells FSBO... have the agent take the seller to court for that.
The agent acted improperly in this case and that should be enough for a breach of contract.
Of course the agent will defend this saying there was no "official" offer to present since no binder was signed. So it could go either way.
you took the words out of my mouth. this agent worked VERY UNETHICALLY, and at the very least, should be reprimanded. i would make a complaint to his/her manager.
Its BS like this... which is why when I was dealing with agents to sell my co-op... I signed an exclusive agreement with NOBODY.
The agents were ******... a lot of them said "BLAH we don't show open listings... yadd yadda".
Well you know what happened? One of the RE agents that said they refused to show an open listing.... brought a buyer to my place the NEXT DAY and I am now in contract with that agent and buyer.
Agents hate open listings cause it means more work for them since they aren't guaranteed their half commission they would get if you signed an exclusive.
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| Posted 10/20/05 2:55 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: total BS...is this legal
Posted by DjPiLL
Posted by MrsERod
Posted by DjPiLL
You won't be able to assume that person's mortgage. If the seller had an assumable mortgage (spelled out in her mortgage contract)... believe me she would be well aware of this. Assumable mortgages are VERY rare... and almost extinct.
I would tell the owner to screw the RE agent completely. She should own the agent NOTHING in this case. Even if she had the 2% owed to the agent if she sells FSBO... have the agent take the seller to court for that.
The agent acted improperly in this case and that should be enough for a breach of contract.
Of course the agent will defend this saying there was no "official" offer to present since no binder was signed. So it could go either way.
you took the words out of my mouth. this agent worked VERY UNETHICALLY, and at the very least, should be reprimanded. i would make a complaint to his/her manager.
Its BS like this... which is why when I was dealing with agents to sell my co-op... I signed an exclusive agreement with NOBODY.
The agents were ******... a lot of them said "BLAH we don't show open listings... yadd yadda".
Well you know what happened? One of the RE agents that said they refused to show an open listing.... brought a buyer to my place the NEXT DAY and I am now in contract with that agent and buyer.
Agents hate open listings cause it means more work for them since they aren't guaranteed their half commission they would get if you signed an exclusive.
it's agents like this that give someone like ME a bad rep. 
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| Posted 10/20/05 3:07 PM |
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laborday06
LIF Infant
Member since 6/05 166 total posts
Name:
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Re: total BS...is this legal
Posted by MrsERod
Posted by DjPiLL
Posted by MrsERod
Posted by DjPiLL
You won't be able to assume that person's mortgage. If the seller had an assumable mortgage (spelled out in her mortgage contract)... believe me she would be well aware of this. Assumable mortgages are VERY rare... and almost extinct.
I would tell the owner to screw the RE agent completely. She should own the agent NOTHING in this case. Even if she had the 2% owed to the agent if she sells FSBO... have the agent take the seller to court for that.
The agent acted improperly in this case and that should be enough for a breach of contract.
Of course the agent will defend this saying there was no "official" offer to present since no binder was signed. So it could go either way.
you took the words out of my mouth. this agent worked VERY UNETHICALLY, and at the very least, should be reprimanded. i would make a complaint to his/her manager.
Its BS like this... which is why when I was dealing with agents to sell my co-op... I signed an exclusive agreement with NOBODY.
The agents were ******... a lot of them said "BLAH we don't show open listings... yadd yadda".
Well you know what happened? One of the RE agents that said they refused to show an open listing.... brought a buyer to my place the NEXT DAY and I am now in contract with that agent and buyer.
Agents hate open listings cause it means more work for them since they aren't guaranteed their half commission they would get if you signed an exclusive.
it's agents like this that give someone like ME a bad rep.
Well so far we've had two bad dealings with RE agents...it's been riduculous and stressful. The last one showed us a house that was already on it's way to contract, didnt' tell us but decided to show it to us because they didn't know if the deal was going through. Why show us the house then? Why not at least say, it's under contract?
Editing to say, they were two different RE agents and company. Maybe we should look into getting a buyers agent???
Message edited 10/20/2005 3:39:52 PM.
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| Posted 10/20/05 3:29 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: total BS...is this legal
Posted by laborday06
Well so far we've had two bad dealings with RE agents...it's been riduculous and stressful. The last one showed us a house that was already on it's way to contract, didnt' tell us but decided to show it to us because they didn't know if the deal was going through. Why show us the house then? Why not at least say, it's under contract?
Editing to say, they were two different RE agents and company. Maybe we should look into getting a buyers agent???
A RE agent can continue to show a place until a contract is fully executed. They do not have to tell you there are other offers... nor if there is an accepted offer. Most agents will just say there is a 1st... but if their 1st is shaky... they wont say anything because it lessens their position.
If you do FSBO... you can't get a buyer's agent unless you plan on compensating that agent yourself.
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| Posted 10/20/05 6:17 PM |
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amarto
LIF Adult
Member since 7/05 908 total posts
Name:
Allison
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Re: total BS...is this legal
The same thing happened to us. We put in an offer for 5k more. Another buyer was offering cash. The sellers RE agent never told them about it. Our agent made some phone calls and found out that our offer was never presented. My DH ended up calling the owners himself and explaining the situation, and our agent made some phone calls and got us the house- but the other company was really sheisty and did this illegaly.
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| Posted 10/20/05 9:06 PM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: total BS...is this legal
did the sellers at ANY TIME tell the realtor that they were only interested in a cash offer?
i thought that when i seller lists w/ an agent they sign an agreement stating that they will not list w/ anyone but that agent for 6 months (or whtaever the time frame specified is). however, since the agent acting unethically, i am sure that these things could be worked out.
the agent seems like a real winner. she had 2 offers above the cash deal and didn't present them? um, HELLO, higher offer = more commission.
Message edited 10/20/2005 9:53:43 PM.
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| Posted 10/20/05 9:52 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: total BS...is this legal
Posted by skew
the agent seems like a real winner. she had 2 offers above the cash deal and didn't present them? um, HELLO, higher offer = more commission.
The agent may have gotten a very slightly higher commission... but believe me agents would MUCH prefer cash deals. They just want their commission in the end... and when they list the property they already know the ballpark figure they will get when the house sells.
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| Posted 10/20/05 10:27 PM |
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laborday06
LIF Infant
Member since 6/05 166 total posts
Name:
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Re: total BS...is this legal
Posted by amarto
The same thing happened to us. We put in an offer for 5k more. Another buyer was offering cash. The sellers RE agent never told them about it. Our agent made some phone calls and found out that our offer was never presented. My DH ended up calling the owners himself and explaining the situation, and our agent made some phone calls and got us the house- but the other company was really sheisty and did this illegaly.
This is exactly what happened...thank god we talked to the sellers.
Things look like they are progressing the right direction. Our lawyers are talking right now to figure out the details. My laywer says what the seller do about the realtor is their deal. We told them we saw it with the realtor and when asked we'll still say the realtor showed it to us. We have no contract with the realtor, so they can't do anything to us. Our lawyer did say that the sellers contract with the RE may be void since they never presented our offer, but that has nothing to do with us.
Hopefully I'll be posting again that we are in contracts until then...cross your fingers!
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| Posted 10/24/05 4:16 PM |
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laborday06
LIF Infant
Member since 6/05 166 total posts
Name:
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Re: total BS...is this legal
Posted by skew
did the sellers at ANY TIME tell the realtor that they were only interested in a cash offer?
i thought that when i seller lists w/ an agent they sign an agreement stating that they will not list w/ anyone but that agent for 6 months (or whtaever the time frame specified is). however, since the agent acting unethically, i am sure that these things could be worked out.
the agent seems like a real winner. she had 2 offers above the cash deal and didn't present them? um, HELLO, higher offer = more commission.
The owners, from what they say to us, never said they'd rather a cash deal. They are so ****** at the RE agency and in fact said they've been a nightmare from the beginning.
Once this is all said and done, I'll let anyone who knows what RE company it was. I just don't want to until the deal is sealed or dead.
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| Posted 10/24/05 4:17 PM |
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laborday06
LIF Infant
Member since 6/05 166 total posts
Name:
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Re: total BS...is this legal
Posted by DjPiLL
You won't be able to assume that person's mortgage. If the seller had an assumable mortgage (spelled out in her mortgage contract)... believe me she would be well aware of this. Assumable mortgages are VERY rare... and almost extinct.
I would tell the owner to screw the RE agent completely. She should own the agent NOTHING in this case. Even if she had the 2% owed to the agent if she sells FSBO... have the agent take the seller to court for that.
The agent acted improperly in this case and that should be enough for a breach of contract.
Of course the agent will defend this saying there was no "official" offer to present since no binder was signed. So it could go either way.
Even mortagage that state they are not assumable are assumable. There are loop holes and some banks still do it. This fact comes from 3 laywers and one mortgage broker. It depends on the situation and financial institutions involved.
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| Posted 10/24/05 4:21 PM |
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