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We offered on a Freddie Mac property with cash for a good amount of money over the asking price.
The listing agent jerked us around a week, then asked for "new" offers.
Then, told us we were beat by "multiple better offers."
Today the sale price of the home hit the records - for SIGNIFICANTLY less than our cash offer, and much less than the asking price.
I know that Freddie Mac sells homes as-is and doesn't do a lot of negotiation. I'd have a hard time believing someone talked so much money off the house after Freddie Mac accepted the offer.
Did something unethical and possibly illegal happen here?
We don't want the house anymore. We found a better house later. But we certainly want to report it, at the very least, to Freddie Mac.
Perhaps, the realtor never submitted your offer, he may have misplaced it, and only submitted his friends offer. You will never know. Freddie Mac will never know. And you will never get an official "declined" offer letter. It's a terrible way to sell houses. It encourages unethical behavior.
We need to move to a more public method of selling houses similar to ebay where houses get bid up and you can see the other people's offers.
It is possible that the Realtor acted unethically (possibly illegally). However, the agent would be risking the loss of a lucrative client (Freddie Mac), in addition to the risk to his/her license and livelihood. The risk/reward here isn't that great.
There are a number of reasons why the sale may have recorded for less than your offer. It's possible that an inspection may have revealed significant problems. Or, there may have been liens and/or fines that were discovered, and assumed by the buyer, for a discounted price. There could have been other things in the contract that were more important than price alone.
I would, at least, call the agent to ask the circumstances, before assuming something underhand occurred.
When you wrote "Today the sale price of the home hit the records"
Where did you see this? Court record or just some where on the Internet like zillow?
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