Is it illegal for a realtor not to submit an offer? - Page 3 - City-Data Forum

Lake Conroe resident · 03-23-2009, 09:21 PM

Quote:

Originally Posted by Silverfall

The bank doesn't give instructions to not present other offers. File a complaint.

Would have to agree with this ^^^. Also; not sure about NJ, but here in Tx there is a form called "evidence of presentation of earnest money contract" that asks for the signature of the seller to confirm that the offer was actaully presented. If applicable in your state I would suggest your agent sending one of these over to let them know you're not just going to lay down and go away. The selling agent will re-think the consequences and more than likely submit the offer at that point.

Josh Woods · 03-26-2009, 12:31 AM

The state of Tennessee would require me as a representative of the seller to continue to submit all offers in a timely manor up until the day of closing.

While my sellers could not back out of an accepted contract without risk of being sued, they would know that there was potential "back-up offers" available to them to take.

Your contract should have had a place where the seller signed "accepted, countered or rejected". Tell the seller agent that you want that back from her seller for your records. She was required to provide that to your agent (at least in my state).

If you have questions, you can use DM

cnunes · 01-20-2011, 09:57 AM

What if I submitted an offer, the bank accepted my offer then the realator for the property went missing. She already had our signed offer and we were trying to obtain the bank write up to further proceed. We waiting two weeks before hearing from her. She sends an email saying that there are now other offers and that we have to have sign counter offers & email them to her by 11p.m. that night. Oh, and she sent the email to my realator after 5!Isn't that illegal?

rjrcm · 01-20-2011, 10:57 AM

Quote:

Originally Posted by cnunes

What if I submitted an offer, the bank accepted my offer then the realator for the property went missing. She already had our signed offer and we were trying to obtain the bank write up to further proceed. We waiting two weeks before hearing from her. She sends an email saying that there are now other offers and that we have to have sign counter offers & email them to her by 11p.m. that night. Oh, and she sent the email to my realator after 5!Isn't that illegal?

Not illegal. Many times the bank will sit on offers hoping to get others, then counter back to everyone for highest and best. You likely got a verbal bank acceptance, but the bank can still take other offers until final signatures are obtained. It's one of the risks you take when trying to buy a bank owned home.

DanteMazyck · 01-24-2011, 04:04 PM

I would say it's unethical for an agent not to submit an offer since they don't own the property and they never know what offer a seller may accept. Unless the sellers specifically stated they only wants offers at or above a set price, then the agent wouldn't have ethical issues, but an agent that takes matters in their own hands isn't what being an agent is all about.