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Interesting... now the property is listed as "Off the Market"
In AZ it would be TOM, or Temporarily Off Market if the seller doesn't want to entertain any other showings or offers, but if there is an escrow it has to be in Pending; not TOM.
The status change of a listing should be with the consent of the seller.
The agent probably realized the mistake in placing it as Sold and changed it by taking it off market, but even the Off the Market, with an escrow pending may be a violation. At any rate the agent is keeping others away from the listing, whether it's at the sellers request or not.
The couple under contract has had numerous problems due to past identity theft... the seller through the listing agent have granted extensions.
Drive by the property every day and the Sold sign is very prominent... even though Escrow is still open.
I did let the Listing Agent and Seller know that I was able to offer all cash with a 10 day close should the opportunity arise... it really helps to have friends in a position to offer a bridge loan while I liquidate property.
It did get every one's attention... so who knows.
In retrospect, I might have already closed if the Listing Agent had not been so adamant the Sale was a done deal... from experience, I know many sales, at least in my area, fail to close.
Appreciate the advice from the City-Data brain trust
Actually, in my area, agents are required by law to present all offers up until the time of closing. So even if you are 2 days from closing, if a written offer comes in, you still have to present it. Of course, that close to closing, it is unlikely the seller would even sign it as a back up offer, since all contingencies would be removed by the main buyer at that point, but you still have to present it, by law. But that only applies to written offers. The agent is under no legal obligation to present any verbal offers. From what you said, Ultrarunner, I can't tell that you have ever put anything into writing. Until that happens, the agent can continue to ignore your verbal offer, legally.
I have to wonder about the MLS markings though.... in my area, once a listing is marked sold, the agent can't do anything else with it. So it would be impossible to then change it to Off Market. So that is odd to me. I can see putting "Sold" on the sign...I see that all the time when a house has an offer the agent thinks is going to close. But putting it in MLS that way should be a violation. But maybe your MLS has different rules, since what you've described happening isn't even possible in our system.
The agent had originally told me I was too late and refused to write up my offer.
So, I presented a written offer to the seller and e-mailed a copy to the Agent...
I've bought dozens of homes over the years and have always prepared my offers for presentation by the listing agent if there was one or directly to the property owner if not...
In this case, I know the family selling going back almost 30 years and I visited often as the home was being built...
It was my own dumb luck that I didn't learn it was for sale till after the open house...
When the listing agent refused to write my offer... I called the seller directly from the unlisted number I had in my phone book.
One of the reasons she refused besides already being in contract was that I as not pre approved or prequalified... Never had to do that before.
Since she made a point of it, I was at my mortgage broker at 8 am the next morning with my financials and had a letter that afternoon...
One thing I have learned is the belief Real Estate is a Buyer's market in today's economy doesn't appear to be true at all... at least here in my part of the Bay Area.
I was not looking and had no plans on moving... it's just this property was always my ideal property and one that would have been out of reach even 10 years ago...
Well... the new owners closed last Friday... unfortunately, it wasn't me.
I did get my offer in and as it turns out for a higher price then the property selling price.
I offered full price, all cash with a 10 day close and no contingencies...
The owner told me she would have gladly sold it to me... it was just a timing issue
The listing agent called to tell my the new buyers will have their old home to market soon... I know the area and it just falls far short for my needs...
I again want to thank the CD brain trust for encouragement and advice... I was certain this was going to eventually go my way... especially after the buyers were out of contract twice.
I met the new owner and I told him I had also tried to buy the property.
He said that his agent told him there was someone hot on his heels just waiting in the wings... he thought it was just posturing on the part of the agents.
Anyway, I offered him a $100,000 more than he paid for the place, which was my offer to the seller all along.
He kind of chuckled and said if I were to make $300,000, he would have to tell the movers to turn the truck around... told him that would not be necessary.
We met because he is in the process of selling the home he currently lives in and his agent contacted me to see if I would be interested... it's an OK place... just not something for me and no comparison to the home we both wanted.
Just goes to show that Real Estate is all about negotiation... for an extra 300k it could still be mine
He said that his agent told him there was someone hot on his heels just waiting in the wings... he thought it was just posturing on the part of the agents.
I think the public's perception is way off on their idea of agents lying about competing offers and buyers. Considering all the reports here of multiple offers in many markets, it seems those listing agents are probably most often telling the truth.
I think the public's perception is way off on their idea of agents lying about competing offers and buyers. Considering all the reports here of multiple offers in many markets, it seems those listing agents are probably most often telling the truth.
The listing agent's job is to get the client's home sold. S/he should be honest, but can bluff. He may not have multiple offers, but saying that there is a lot of interest, or that an offer has been promised, is a way to generate increased interest.
The agent should not, however, say that she has multiple offers in hand, if she does not.
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