We have an offer on a single family home in Va for almost 6 weeks now. This is a short sale and 3rd party (bank) approval is a must. We thought about withdrawing the contract, but the seller's agent offer to ratify it (accept no others' offer). It doesn't mean we will get the house, but can she do that? Also, anyone has real life experience with buying a short sale property? Thanks :)
2007-06-11 13:44:46 · 3 answers · asked by Ceci C 3 in Business & Finance ➔ Renting & Real Estate
The seller's agent is in NO position to do such a thing without the agreement of the sellers and the bank. (Whichever holds the listing on the property) The seller's agent's job is to find a ready, willing, and able buyer for the highest possible price for the sellers.
If this agent is not accepting other offers which come in for the property, she is in direct violation of VA state law, NAR code of ethics, and the VA Association of Realtors code of ethics.
Does your offer allow you to withdraw ? Contractual language determines that, and it should be clearly stated in your offer to purchase. I assume that you wrote your offer directly with this selling (listing) agent ?
I can guarantee you that, if she promised this and did it without seller permission, they would have her head on a platter if they discovered same.
I am thinking as I post, and I have to wonder if she didn't hand you a line just to try to keep you from withdrawing.
2007-06-11 13:57:43 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
the answer to you question: can a settlement be signed, then replaced without be conscious given to the signed celebration? sure, it occurs each and all the time! yet, it extremely is prohibited!!! there is the load of evidence: you may instruct your declare, in any different case, you would be an excellent greater desirable loser. If the actual sources agent made the substitute for self-serving objective, or to income yet another celebration of the transaction, it extremely is, in all likelihood in maximum states, additionally fraud; and, meaning, to the be apologetic approximately of the agent's coverage underwriter, punitive damages that could quantity to lots greater desirable than the agent's fee. If there's a extreme possibility of you proving your declare in courtroom; it would relatively develop the quantity of any severe furnish to settle.
2016-10-09 00:39:16 · answer #2 · answered by ? 4 · 0⤊ 0⤋
The bank must approve the sale. You should take back up offers.
2007-06-11 13:58:48 · answer #3 · answered by sm4125 3 · 0⤊ 0⤋