I recently put a bid on a house, I was later countered, in which I accepted the terms, except for agreeing to get an appraisal before the bank accepts my offer (short sale) The realtor says he must have the appraisal before he even submits it to the bank. So on today I went to the property where I placed a bid and spoke with the owners and they had no idea that I had even placed a bid. He didn't tell them. So my question is can he make a counter offer without the sellers even knowing about it?
2007-12-19 14:33:16 · 4 answers · asked by hotgirl_rightgirl00 5 in Business & Finance ➔ Renting & Real Estate
He is the owners' realtor, not the bank. The bank doesn't even know that I placed a bid because he didn't submit the paperwork
2007-12-19 14:44:58 · update #1
If he is representing the bank, then yes. If he is representing the owners, then no. It's basic agency law
2007-12-19 14:42:37 · answer #1 · answered by mcmufin 6 · 0⤊ 0⤋
The owners acted surprised? Ever think they are not going to talk with you? First and for most who is your agent on this deal? hope it is not the sellers agent. Get your own agent to place any bid. Unless you know that this agent has given you the papers of the dual agency. As the attorney said he is conducting business for whom?
2007-12-19 15:26:53 · answer #2 · answered by Big Deal Maker 7 · 0⤊ 1⤋
He is dealing with the bank, the owner have no say in the short sale.
2007-12-19 14:39:03 · answer #3 · answered by Landlord 7 · 5⤊ 1⤋
He shouldn't, but as their AGENT he is able to conduct business as long as he is acting in their best interest.
I'd never do it that way, but sounds like he did what was right for the client.
2007-12-19 14:39:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋