OfflineI put an offer in on a home about a week and a half ago. The realtor was real excited and said that the bank normally responds within 24 hours. A few days later the bank asked for the highest and best bid, as they had another (but the people were having issues with their financing). I have left multiple emails and voicemail messages, but to no avail. My gut tells me to get my own realtor and have them re-enter the offer....any advice?
__________________
Lenee
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
If they do not have your best interest find one that does. This business is about teamwork and im sure you can get a more qualified Realtor. Always use 2 of everything, Realtor, brokers, etc.
a short sale property. I posted it on the short sale thread. I put in an offer 2 weeks ago. Was told by the listing agent the bank wants nothing under 100K and he won't submit my offer. Its listed at 80K (to try to get a bidding war) 2 identicle homes in the tract sold for 121K and 105K within the last month. I offered 85K and allowed the short sale bank to be the bank to the financing with my buyers (its their first home, owner occupied). Isn't there a fiduciary responsibility to submit the offers? I'm only acting as the trustee for them on this one trying to get them into their first home because they are good friends, so the offer was put in as 'owner occupied' all over it.
Tammy, it is law, at least here in upstate NY that agents must submit any and all offers. If they aren't you can go the filing a complaint or move on to an agent who thinks like you do...Jan
and ask to speak with the agents broker. if the agent is there, don't speak with them, simply ask to speak with the broker and never yell. that alone will be cause to defend the agent and get them off the hook.
tell them in a calm manner you had two cash buyers who wanted it but passed because of the lack of professionalism on the agents part. Mention again the cash buyers you have at your disposal
dont be surprised if that offer goes in and possibly gets accepted and the broker themself starts working with you.
Thanks for the advice! I actually called the company to speak to the broker and found out that the guy that never responded was the broker and the owner! Will never do business with them again...
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
Hi Lenee, I am not the most experienced but I know one thing if you don't have a relator you can count on say "Next" Even my Relator who I have been working with for 3 years on our current residence was not getting back to us or getting info to me. I found 14 REO's that she had not told me about. We made an appointment with someone else and I let her know, but not rudely. I just said, it seemed she was so busy that,... Well, she was at my house this morning because she wasn't going into the office and down loaded me everything I asked for. Once they see you are serious they will try harder. But if they start out not giving you the time of day, Pass and move on!
Charisse
It sounds like you made your offer thru the listing agent. I suggest that you always use your own agent to make offers. Your agent only gets paid if your offer is accepted. Your agent will know the rules, and will pressure the listing agent to get results. Find a good agent who is willing to work with you and understands how you intend to work as an investor. Not all agents will agree to make "low ball" offers or are willing to do contract assignments. Just telling the agent that you are an investor is not enough. Get these details worked out before agreeing to work with an agent. You will be spinning your wheels if you do not find an agent who is willing to work under your terms.
I wish you much success, Al
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.
Frank Outlaw
I read another thread about REOS and shortsales saying its best to work with the listing agent. I can't go to the office to talk to the broker, but I will definitely try to reach him on the phone. The house I offered on is still on the market and he was full of bulsh. So, I am going to try to call the broker. Thanks for all the advice everyone.