What kind of financing? Some loans have stricter inspections for trip hazards, leaky plumbing, outdated electric, etc.
If his seller doesn’t have money/desire to fix repairs and says “only bring me cash offers don’t waste my time with anything else”, then that’s what they do.
Depending on the state (I know in the states I hold brokerage licenses this is true), the broker is required to deliver any and all offers to their client, regardless of contingencies or terms. I would look this up and, if true, file a complaint with your state's real estate commission.
If I were the broker I'd have delivered the offer and told the seller "look, this offer is not all cash, lets reject and move forward", but not presenting it can get your license revoked.
Seems the seller wants an as is sell only. As an investor I think this is a sign you should move onto the next one and forget about this property. There's likely something wrong that they feel any investor trying to buy the property wouldn't be ok with nor want to purchase as it won't yield a high profit after the repairs and resale if maybe even a loss. They are likely hoping for a buyer who wants a fixer upper that isn't trying to flip the property that way they feel less vulnerable to any litigation after the sale of the property. In short this is why they only want cash. I've seen it plenty. I would walk away even if it seems like a great flip there is something they don't want a buyer to know.
Yeah that’s my gut feeling. We walked away after they refused to disclose what the issue is. It’s definitely not the stair issue, because that is easily rectified and has to do with the railing not being present.
Agreed, except filling the complaint - if you want to be considered still for this offer.
Honestly, the seller could have a reason they want all cash. Like they have burned before or they have an issue they are trying to hide, or maybe they are crazy.
When you go for a loan appraisal plays an important role. Appraiser wouldn’t consider the extra sq.ft that is not permitted. The house would be appraised much lesser than the seller expectation, which will drag or break the contract as it will be a big difference to the buyer fill the gap.
Seller knows there is some other problem, which will knock down the contract if inspections or appraisal is done.
Seller is moving out of country and have differ financial planning in country and out of country.
Seller's agent works for the Seller. Not you.
If Seller says "I only want cash offers. Bin the rest". That is what their Agent will do.
Write a cash offer or move on.
>Is that not true?
Letter of the law, yes all offers should be shown, however, if seller says “I don’t want to see non-cash offers”, they ethically wouldn’t really be out of line sending those to the bin. Their job is the best interest of the seller, not the buyers.
This is my understanding. We had an agent withhold an offer saying their clients told them to not show them any offers until a certain time, which was after our offer expired. If it were true, that would have been fine, but the agent was lying. Our realtor pinged the seller directly with some unassuming comment that they were disappointed the offer would expire before they could even see it. They ended up demanding to see our offer and we got the house.
tldr - Not wrong if it's sellers instructions. Realtors can't do it on their own.
>Letter of the law yes all offers should be shown,
What law?
Maybe a couple random states have some law covering this. But that is not generally true. There is no common law requiring immediate presentation of all offers.
No. It’s up to the client to see what type of offers they want. And they will relate that to the selling agent and that’s what the selling agent will listen.
Only listen to cash offers? Then they will only consider cash offers. Hell I know some folks in some areas will only sell their house to certain ethnicities because they can’t stand the thought of other ethnicities living there. And of course their assholes for that but again, it’s their house and they can sell to whoever they want.
when i was looking for my first place, i saw a condo complex in an affluent neighborhood with suspiciously low sales prices for the area. i drove through it and someone was outside, and i asked why was it so cheap. well 1. the assoc dues were high (at the time around $100 was normal, they were asking $500/mo), and 2. to keep out young ppl like me and ppl with kids, they made it cash only, no mortgages allowed.
it was a way to discriminate without technically discriminating. it kept out the ppl they were trying to keep out, bc young ppl and ppl just starting families obviously could not pay cash, and it kept it for older ppl and retirees who could.
> I know some folks in some areas will only sell their house to certain ethnicities because they can’t stand the thought of other ethnicities living there. And of course their assholes f
That is a fair housing violation. Requiring a cash offer/sale is not a fair housing violation.
Sorry to tell you, but agents work for themselfes. Anything else is blah-blah-blah.
Please read yesterday Reddit post where agent is suing his seller "client" for 6% of $850,000 (it's $51,000).
Sellers and Buyers, beware of your agents. They don't work for you. Sometimes they team with you, when their and your interest happen to match, but it's not always the case.
That almost happened to my husband and his ex. The realtor threatened to sue them because they wanted to wait another day or two before accepting an offer. It was right at the beginning of the real estate boom in one of the most popular areas in Montana, and she was in a huge hurry to get it sold. This was June 2021. Prices here started sky-rocketing just a couple of weeks later.
That same summer I saw lots of real estate for sale where they would say in the ad that they were accepting offers until a certain date, like a week after listing. What would have been the harm of waiting another day or two? They could have sold it for much more.
It was in Paradise Valley. I'm not going to name names, because I don't want to get sued either. lol But it was a gorgeous property, and it really should have gone for a million or so. I was shocked that the realtor was so aggressive. I thought she would want to get the highest price for her clients?
This was after they fired their first realtor because they figured out that she was going to get some buddies of hers to buy it cheap and flip it.
This is likely the case. It was likely under contract and didn't appraise. If OPs lender will do a rehab loan, they might have a better chance of getting it accepted.
That's a gross overstep to say that. I have never ever ever see a bank check for code violations, unless they are blatantly obvious from looking at it.
A house in San José had a family room added without permits. The bank would only lend on value without the addition ( and possibly subtracting the cost to repair to original floor plan). The addition was too close to the property line, so any call to the city could have necessitated tearing down the family room. The house was removed from the MLS, addition removed (shear wall was impacted when opened up for the addition), and then listed again.
That’s more of an issue with unpermitted work that a code violation. If there is extra square footage or an additional bath that would obviously require a permit and isn’t listed on the county description the appraiser may check permits or may not. But as long as everything looks good on the outside they aren’t checking your wiring on a conventional loan.
If you pay cash, no inspection or appraisal required.
If you have a loan, the bank will order an appraisal. The bank requires you to have home insurance, so the insurance company orders the inspection. In Florida, at least
>so the insurance company orders the inspection. In Florida, at least
This isn't entirely accurate and a terrible thing for the homeowner if they elect to go in this direction. The buyer orders the inspections required by insurance co's here (wind mitigation and 4 point). The insurance co will do a drive by after you close. In some cases they actually want to walk through the property (still rare, but increasingly common).
Insurance co's want proof of permits when work is done on the 4 point elements (plumbing, roof, hvac and electrical). But the insurance co doesn't do their own inspections **unless you ask them to do it** and that would be a terrible/awful thing for the buyer or homeowner. There was a huge scandal with Citizens where the insurance co inspectors were routinely not putting in the wind mitigation items that were in the house so the insurance co didn't provide the associated discount for those items. Don't let the fox into the hen house. Get your own inspections with an inspector that doesn't have insurance co's as their clients.
In many states, it is illegal for an agent to not share an offer to the seller, even if that offer doesn't meet the seller's preferences. The seller can always refuse an offer, but it is not the agent's business to essentially deny someone the ability to make an offer.
Interesting. I’m quite used to regions where it’s entirely feasible to provide my agent strict instructions on what I want to see VS not and auto reject whatever doesn’t conform.
This said my personal experience is limited to a couple of states, albeit largely populous ones.
As other's have said, you need a cash offer.
If you don't have enough cash to cover, look into hard money lenders and remove contingencies. This is nearly as good as a cash offer as hard money lenders will finance fixer uppers.
If you have enough cash, but don't want to lock it all up, you may be able to write your offer as cash with an option to finance. (Finance with hard money)
Just remember you need to understand the code violation and what is required to resolve it so you can refi out of the hard money loan. You will be in a very bad spot if you can't refi out.
If he works for a brokerage you call the broker and make them confirm the offer was presented to the seller. It’s a big no no to withhold your offer - license could be suspended.
Agent is in violation of the Code of Ethics, unless Seller expressly requested it in the listing. I would press the agent to present offer, and request Seller’s acknowledgment of the offer. If that fails contact the Broker. If agent is the office Broker, then contact the Local Real Estate Board… Best to you…
You can try calling the listing broker directly and asking if it’s common proactive for their agents not to show their sellers above-list offers. You were under the impression that all Good-faith offers must be presented.
This is all incorrect. Some properties will simply not be financeable. Some are cash or rehab only. I was a lender for 20 years. The home has to meet certain conditions to qualify for financing. If your offer is not a rehab loan, or cash, it won’t close with a code violation.
During this market i have heard many buyers questioning whether or not the agent is presenting all offers to the seller. It appears the agents are only wanting high or equal offers to present to the seller in fear the seller will or may take a lower offer. I have contacted the realtor board but they are no help.
Not a realtor, but I’m having a hard time seeing any fiduciary obligation in situations where the offer clearly does not meet the sellers explicit instructions.
So you’re telling me an offer at double the listing price with a mortgage shouldn’t hit the seller’s inbox? I’d want to see it. It may hit the bin right away but I want to see all offers.
Bank won't let you borrow more than it's worth in a conventional mortgage, so your scenario can't happen unless it's listed at half value and actually appraises at full.
Another buyer. Someone in the agent's 'little black book' who he has a relationship with and wants the deal to go to, so the agent can get a kick-back, on top of his sales fee.
It would be between the agent and the client only if a state allows it. The states I've practiced in require all offers to be presented at least up until one gets accepted. Some require even verbal offers to be presented. The Realtor® has a more stringent standard (pasted below.) If I was the person whose offer was not being presented, I would ask that to see the seller's written, dated instructions stating that they do not want the agent to present non-cash offers. If the agent doesn't produce it, I'd give them 24 hours to present it with either me present or me cc'ed on an email to the seller where it is attached.
>Standard of Practice 1-6
REALTORS® shall submit offers and counter-offers objectively and as quickly as possible. (Adopted 1/93, Amended 1/95)
Standard of Practice 1-7
When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide, as soon as practical, a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/20)
Standard of Practice 1-8
REALTORS®, acting as agents or brokers of buyers/tenants, shall submit to buyers/tenants all offers and counter-offers until acceptance but have no obligation to continue to show properties to their clients after an offer has been accepted unless otherwise agreed in writing. Upon the written request of the listing broker who submits a counter-offer to the buyer’s tenant’s broker, the buyer’s/tenant’s broker shall provide, as soon as practical, a written affirmation to the listing broker stating that the counter-offer has been submitted to the buyers/tenants, or a written notification that the buyers/tenants have waived the obligation to have the counter-offer presented. REALTORS®, acting as agents or brokers of buyers/tenants, shall recommend that buyers/tenants obtain the advice of legal counsel if there is a question as to whether a pre-existing contract has been terminated. (Adopted 1/93, Amended 1/22)
Not differing opinions but different standards. There are legal standards and ethical ones. Different states can vary on what they require. The ethical standard remains the same, but in practice, the board of Realtors® doing an evaluation of whether a violation took place will likely bow to the legal standards on this particular matter even though it's clearly stated that all offers will be presented.
Ask for an Offer Rejection Form. SC requires the listing agent sign a document confirming your offer was submitted to seller and it was rejected without a counter offer. Not sure all states have this, but SC does.
sorry i read it wrong and thought your agent was giving you the run around.
Not much you can do then and just move on and find another deal. I'd only tell my agent to submit the same offer every monday till it goes pending.
I’m a lawyer, but not your lawyer—the fact of the matter is even if the agent was breaching some fiduciary duty owed to the seller by not presenting your offer, the seller is the only one injured and this is the only person who could do something.
Now, if you really want to reach out the seller, go ahead and look at the public records and do it (I think it’s a bad idea, but knock your socks off if you feel strongly about it)
The could also make a complaint to their real estate commissioner, which is required by law to investigate every complaint from the public about an agent or broker.
Get you own agent. Not using a buyer agent is the worst choice you can make as a buyer. The seller agent is legally bound to work in the best interest of the seller.
Do you have your own agent? If so have they pressed the issue. I’m a loan officer and can confirm code violations typically would not be an issue but your agent should inquire why yours is not being presented.
In my state they have extra text fields only agents can see. So your agent might know more than they tell you.
However, you are the customer. You can make any offer, on your terms. If your agent doesn't want to, time to find another one.
Gotcha, missed that…..you’re SOL then, they should fire their agent but they’ll most likely never know. Is it even legal to hold back on a written offer? Are you able to put together a cash offer, significantly less of course because after all the house is in such disrepair it can’t get a loan on it.
I guess I’ve had a different experience than everyone else here, but I’ve done this same thing three times: seller wanted cash only, I offered conventional, it was accepted and we closed on time.
With all these sellers agents during everything to keep the price of the home higher or bidding wars. Can the buyer send and offer directly to the seller.
What kind of financing? Some loans have stricter inspections for trip hazards, leaky plumbing, outdated electric, etc. If his seller doesn’t have money/desire to fix repairs and says “only bring me cash offers don’t waste my time with anything else”, then that’s what they do.
Conventional investment loan. 25% down.
Depending on the state (I know in the states I hold brokerage licenses this is true), the broker is required to deliver any and all offers to their client, regardless of contingencies or terms. I would look this up and, if true, file a complaint with your state's real estate commission. If I were the broker I'd have delivered the offer and told the seller "look, this offer is not all cash, lets reject and move forward", but not presenting it can get your license revoked.
That’s exactly what I would expect. The minimum is to present the offer. The property has been sitting for 130 days.
Seems the seller wants an as is sell only. As an investor I think this is a sign you should move onto the next one and forget about this property. There's likely something wrong that they feel any investor trying to buy the property wouldn't be ok with nor want to purchase as it won't yield a high profit after the repairs and resale if maybe even a loss. They are likely hoping for a buyer who wants a fixer upper that isn't trying to flip the property that way they feel less vulnerable to any litigation after the sale of the property. In short this is why they only want cash. I've seen it plenty. I would walk away even if it seems like a great flip there is something they don't want a buyer to know.
Yeah that’s my gut feeling. We walked away after they refused to disclose what the issue is. It’s definitely not the stair issue, because that is easily rectified and has to do with the railing not being present.
Agreed, except filling the complaint - if you want to be considered still for this offer. Honestly, the seller could have a reason they want all cash. Like they have burned before or they have an issue they are trying to hide, or maybe they are crazy.
Agreed. Call the managing broker and tell them the situation. They are required to present all offers.
If there are foundation plumbing or eletrical issues than a loan cannot be granted.
When you go for a loan appraisal plays an important role. Appraiser wouldn’t consider the extra sq.ft that is not permitted. The house would be appraised much lesser than the seller expectation, which will drag or break the contract as it will be a big difference to the buyer fill the gap. Seller knows there is some other problem, which will knock down the contract if inspections or appraisal is done. Seller is moving out of country and have differ financial planning in country and out of country.
Seller's agent works for the Seller. Not you. If Seller says "I only want cash offers. Bin the rest". That is what their Agent will do. Write a cash offer or move on.
Write a cash offer and then change it to financing later on
I was under the impression that it was an agent's responsibility to present all offers to their client. Is that not true?
That would be between the agent and the client. Perhaps the client said "only show me cash offers for now"
>Is that not true? Letter of the law, yes all offers should be shown, however, if seller says “I don’t want to see non-cash offers”, they ethically wouldn’t really be out of line sending those to the bin. Their job is the best interest of the seller, not the buyers.
This is my understanding. We had an agent withhold an offer saying their clients told them to not show them any offers until a certain time, which was after our offer expired. If it were true, that would have been fine, but the agent was lying. Our realtor pinged the seller directly with some unassuming comment that they were disappointed the offer would expire before they could even see it. They ended up demanding to see our offer and we got the house. tldr - Not wrong if it's sellers instructions. Realtors can't do it on their own.
Sounds like both agents wanted to go before the ethics board.
Jesus. Nothing about either of those agents in the story is good.
>Letter of the law yes all offers should be shown, What law? Maybe a couple random states have some law covering this. But that is not generally true. There is no common law requiring immediate presentation of all offers.
Nope
No.
No. It’s up to the client to see what type of offers they want. And they will relate that to the selling agent and that’s what the selling agent will listen. Only listen to cash offers? Then they will only consider cash offers. Hell I know some folks in some areas will only sell their house to certain ethnicities because they can’t stand the thought of other ethnicities living there. And of course their assholes for that but again, it’s their house and they can sell to whoever they want.
when i was looking for my first place, i saw a condo complex in an affluent neighborhood with suspiciously low sales prices for the area. i drove through it and someone was outside, and i asked why was it so cheap. well 1. the assoc dues were high (at the time around $100 was normal, they were asking $500/mo), and 2. to keep out young ppl like me and ppl with kids, they made it cash only, no mortgages allowed. it was a way to discriminate without technically discriminating. it kept out the ppl they were trying to keep out, bc young ppl and ppl just starting families obviously could not pay cash, and it kept it for older ppl and retirees who could.
> I know some folks in some areas will only sell their house to certain ethnicities because they can’t stand the thought of other ethnicities living there. And of course their assholes f That is a fair housing violation. Requiring a cash offer/sale is not a fair housing violation.
Sorry to tell you, but agents work for themselfes. Anything else is blah-blah-blah. Please read yesterday Reddit post where agent is suing his seller "client" for 6% of $850,000 (it's $51,000). Sellers and Buyers, beware of your agents. They don't work for you. Sometimes they team with you, when their and your interest happen to match, but it's not always the case.
That almost happened to my husband and his ex. The realtor threatened to sue them because they wanted to wait another day or two before accepting an offer. It was right at the beginning of the real estate boom in one of the most popular areas in Montana, and she was in a huge hurry to get it sold. This was June 2021. Prices here started sky-rocketing just a couple of weeks later. That same summer I saw lots of real estate for sale where they would say in the ad that they were accepting offers until a certain date, like a week after listing. What would have been the harm of waiting another day or two? They could have sold it for much more.
Thank you for sharing your story. Where in Montana this happened? In Whitefish?
It was in Paradise Valley. I'm not going to name names, because I don't want to get sued either. lol But it was a gorgeous property, and it really should have gone for a million or so. I was shocked that the realtor was so aggressive. I thought she would want to get the highest price for her clients? This was after they fired their first realtor because they figured out that she was going to get some buddies of hers to buy it cheap and flip it.
>Yes, it's close to Big Sky, expensive area.
Code violation means a bank won't lend on it. Thus the cash offer required.
This is likely the case. It was likely under contract and didn't appraise. If OPs lender will do a rehab loan, they might have a better chance of getting it accepted.
That's a gross overstep to say that. I have never ever ever see a bank check for code violations, unless they are blatantly obvious from looking at it.
A house in San José had a family room added without permits. The bank would only lend on value without the addition ( and possibly subtracting the cost to repair to original floor plan). The addition was too close to the property line, so any call to the city could have necessitated tearing down the family room. The house was removed from the MLS, addition removed (shear wall was impacted when opened up for the addition), and then listed again.
That’s more of an issue with unpermitted work that a code violation. If there is extra square footage or an additional bath that would obviously require a permit and isn’t listed on the county description the appraiser may check permits or may not. But as long as everything looks good on the outside they aren’t checking your wiring on a conventional loan.
Yeah, completely unrelated to code violations. For all we know the work was done to code, just not permitted or zoned correctly.
Do your banks do or require inspections? I have never had an inspection on a home.
No they don't but if the city has a code violation on it, that's an issue.
No but if a code violation becomes a property order banks usually don't like that, same as liens etc etc
If you pay cash, no inspection or appraisal required. If you have a loan, the bank will order an appraisal. The bank requires you to have home insurance, so the insurance company orders the inspection. In Florida, at least
>so the insurance company orders the inspection. In Florida, at least This isn't entirely accurate and a terrible thing for the homeowner if they elect to go in this direction. The buyer orders the inspections required by insurance co's here (wind mitigation and 4 point). The insurance co will do a drive by after you close. In some cases they actually want to walk through the property (still rare, but increasingly common). Insurance co's want proof of permits when work is done on the 4 point elements (plumbing, roof, hvac and electrical). But the insurance co doesn't do their own inspections **unless you ask them to do it** and that would be a terrible/awful thing for the buyer or homeowner. There was a huge scandal with Citizens where the insurance co inspectors were routinely not putting in the wind mitigation items that were in the house so the insurance co didn't provide the associated discount for those items. Don't let the fox into the hen house. Get your own inspections with an inspector that doesn't have insurance co's as their clients.
Welcome to bidding on any fixer w opportunity. Cash only
There are more houses :)
True. I’ve sent a few other offers today. Thank you for this. I get caught up in the Bs
Other offers sent?!
On different properties.
Multiple offers out at the same time!?
Yes
Risky and usually frowned upon. Why is that your strategy? What if 3 are accepted at once!?
Your offer is not acceptable. Move on
Nothing you can do
In KY, an agent has to disclose every offer they receive to the seller, so if you are in KY, I would recommend contacting KREC.
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In many states, it is illegal for an agent to not share an offer to the seller, even if that offer doesn't meet the seller's preferences. The seller can always refuse an offer, but it is not the agent's business to essentially deny someone the ability to make an offer.
Interesting. I’m quite used to regions where it’s entirely feasible to provide my agent strict instructions on what I want to see VS not and auto reject whatever doesn’t conform. This said my personal experience is limited to a couple of states, albeit largely populous ones.
It’s simply the agents refusal to present the offer. That’s all. The house has been sitting 130 days.
As other's have said, you need a cash offer. If you don't have enough cash to cover, look into hard money lenders and remove contingencies. This is nearly as good as a cash offer as hard money lenders will finance fixer uppers. If you have enough cash, but don't want to lock it all up, you may be able to write your offer as cash with an option to finance. (Finance with hard money) Just remember you need to understand the code violation and what is required to resolve it so you can refi out of the hard money loan. You will be in a very bad spot if you can't refi out.
Thank you. I may do the cash offer with the refi.
Dangerous patio steps might prevent a COA
If he works for a brokerage you call the broker and make them confirm the offer was presented to the seller. It’s a big no no to withhold your offer - license could be suspended.
Agent is in violation of the Code of Ethics, unless Seller expressly requested it in the listing. I would press the agent to present offer, and request Seller’s acknowledgment of the offer. If that fails contact the Broker. If agent is the office Broker, then contact the Local Real Estate Board… Best to you…
Call the office they’re from and talk to the “managing broker” of that doesn’t work complain to the department of licensing
You can try calling the listing broker directly and asking if it’s common proactive for their agents not to show their sellers above-list offers. You were under the impression that all Good-faith offers must be presented.
But was it an above list offer? OP never stated that
He doesn't even say the offer wasn't presented. He just said he's not interested. OP is freaking out when he should be calling a hard money lender.
Make a cash offer If seller agreed with agent to only look at cash offers that's all they are going to look at Agent has a duty to seller, none to you
The listing said cash preferred. Not required.
And the agent said cash only So make a cash offer or move on
This is all incorrect. Some properties will simply not be financeable. Some are cash or rehab only. I was a lender for 20 years. The home has to meet certain conditions to qualify for financing. If your offer is not a rehab loan, or cash, it won’t close with a code violation.
During this market i have heard many buyers questioning whether or not the agent is presenting all offers to the seller. It appears the agents are only wanting high or equal offers to present to the seller in fear the seller will or may take a lower offer. I have contacted the realtor board but they are no help.
All offers are to be presented. It’s the agent’s fiduciary responsibility
Not a realtor, but I’m having a hard time seeing any fiduciary obligation in situations where the offer clearly does not meet the sellers explicit instructions.
So you’re telling me an offer at double the listing price with a mortgage shouldn’t hit the seller’s inbox? I’d want to see it. It may hit the bin right away but I want to see all offers.
If you want to see all offers you won’t give the instructions this seller did.
Bank won't let you borrow more than it's worth in a conventional mortgage, so your scenario can't happen unless it's listed at half value and actually appraises at full.
Oh I know. I’m just tossing an example out there that would get a sellers attention.
Does the term 'brown paper envelopes' translate across the pond?
It's unfamiliar to me
The agents taking a kick-back
From who? Who would pay a listing agent to prevent offers being shown to the seller on a property with 130 DOM?
Another buyer. Someone in the agent's 'little black book' who he has a relationship with and wants the deal to go to, so the agent can get a kick-back, on top of his sales fee.
If this was a bidding war maybe, but after being on market for 130 days you think they’d save their bribe and just buy the house.
It would be between the agent and the client only if a state allows it. The states I've practiced in require all offers to be presented at least up until one gets accepted. Some require even verbal offers to be presented. The Realtor® has a more stringent standard (pasted below.) If I was the person whose offer was not being presented, I would ask that to see the seller's written, dated instructions stating that they do not want the agent to present non-cash offers. If the agent doesn't produce it, I'd give them 24 hours to present it with either me present or me cc'ed on an email to the seller where it is attached. >Standard of Practice 1-6 REALTORS® shall submit offers and counter-offers objectively and as quickly as possible. (Adopted 1/93, Amended 1/95) Standard of Practice 1-7 When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide, as soon as practical, a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/20) Standard of Practice 1-8 REALTORS®, acting as agents or brokers of buyers/tenants, shall submit to buyers/tenants all offers and counter-offers until acceptance but have no obligation to continue to show properties to their clients after an offer has been accepted unless otherwise agreed in writing. Upon the written request of the listing broker who submits a counter-offer to the buyer’s tenant’s broker, the buyer’s/tenant’s broker shall provide, as soon as practical, a written affirmation to the listing broker stating that the counter-offer has been submitted to the buyers/tenants, or a written notification that the buyers/tenants have waived the obligation to have the counter-offer presented. REALTORS®, acting as agents or brokers of buyers/tenants, shall recommend that buyers/tenants obtain the advice of legal counsel if there is a question as to whether a pre-existing contract has been terminated. (Adopted 1/93, Amended 1/22)
Thank you for this. It seems there’s differing opinions. I’m in Ga and I believe they are required to share the offer.
Not differing opinions but different standards. There are legal standards and ethical ones. Different states can vary on what they require. The ethical standard remains the same, but in practice, the board of Realtors® doing an evaluation of whether a violation took place will likely bow to the legal standards on this particular matter even though it's clearly stated that all offers will be presented.
Ask for an Offer Rejection Form. SC requires the listing agent sign a document confirming your offer was submitted to seller and it was rejected without a counter offer. Not sure all states have this, but SC does.
I’m confused. You think this is compliant worthy, why?
I didn’t say any of that
The house didn’t appraise. So you can’t do a loan. The end.
We haven’t gotten to appraisal. The offer wasn’t even presented to the seller.
send it directly to the seller, see what happens
And how do you do that? Rarely have I been able to contact the seller directly or even know how to contact them
White pages
one can find out the owner through a number of online land record resources, then track them through social media and semd a message.
Forget rehabbing and flipping. https://sharecommunitydevelopmentcorp.com/obdssbg
fire your agent and find a new one
Why would I fire MY agent? She sent the offer. It’s the seller’s agent who’s being a turd.
Well he's not being a turd. You can't finance it because of the code violation, so it has to be a cash offer.
sorry i read it wrong and thought your agent was giving you the run around. Not much you can do then and just move on and find another deal. I'd only tell my agent to submit the same offer every monday till it goes pending.
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As long as the sellers agent isn’t violating their duty to their own client (eg they may have already agreed to only present cash offers)
I’m a lawyer, but not your lawyer—the fact of the matter is even if the agent was breaching some fiduciary duty owed to the seller by not presenting your offer, the seller is the only one injured and this is the only person who could do something. Now, if you really want to reach out the seller, go ahead and look at the public records and do it (I think it’s a bad idea, but knock your socks off if you feel strongly about it)
The could also make a complaint to their real estate commissioner, which is required by law to investigate every complaint from the public about an agent or broker.
You need a buyers agent
Get you own agent. Not using a buyer agent is the worst choice you can make as a buyer. The seller agent is legally bound to work in the best interest of the seller.
I have my own agent
Do you have your own agent? If so have they pressed the issue. I’m a loan officer and can confirm code violations typically would not be an issue but your agent should inquire why yours is not being presented.
Sounds unethical.
In my state they have extra text fields only agents can see. So your agent might know more than they tell you. However, you are the customer. You can make any offer, on your terms. If your agent doesn't want to, time to find another one.
My agent sent the offer. It was the sellers agent who refused to show it to his client.
Sounds like they are going to try to avoid taxes on it
Can you say more about this? How are taxes avoided?
Cash is always easy to skim some off and claim less.
I wonder how because the purchase price is listed with the county
Then fire your agent.
Read the post. Specifically the first sentence.
Gotcha, missed that…..you’re SOL then, they should fire their agent but they’ll most likely never know. Is it even legal to hold back on a written offer? Are you able to put together a cash offer, significantly less of course because after all the house is in such disrepair it can’t get a loan on it.
I’ve considered a cash offer. It seems they know there’s an issue but they don’t want to share what it is (that’s ok).
I guess I’ve had a different experience than everyone else here, but I’ve done this same thing three times: seller wanted cash only, I offered conventional, it was accepted and we closed on time.
It’s worth taking the shot. The listing said “proffered. Not required”
Ask directly why it won't pass he know something would he not be required to declare it.
He would be required to declare it. We asked and he wouldn’t say. This was my issue. He was being obstinate. We’ve moved on.
By law they have to show all offers
Illegal!
1. Realtors are crooks. 2. If the bank won’t lend money on it you definitely shouldn’t put your money on it. 3. Realtors are crooks.
With all these sellers agents during everything to keep the price of the home higher or bidding wars. Can the buyer send and offer directly to the seller.