Did the seller's realtor committed fraud? (San Antonio, Howe: short sales, foreclosure, house)

[colonfranqui]

In moving to San Antonio we found a house that we like. The house is in the brings of foreclosure and the bank, through a realtor, is selling the property as a short sell. They had only received one offer prior to our entrance in the picture. We made an offer above the last one through our realtor. My wife felt in love with this house and she expressed this to the seller’s realtor. Out of the sudden the seller’s realtor called our realtor and told him that she received another offer. We increased our offer accordingly. Several days later, she again called our realtor stating that she received another offer and if we want the house, we must increase our offer. Due to my wife’s desire for the house I agreed and increase the offer. I suspect the seller’s realtor is manipulating us into increasing our offers to make a higher commission

My questions are:

Due realtors have a duty under TX law to disclose information on prior/competing offers?

What are my chances, if I bring an action against the realtor in court for fraud in TX?

[hadleyzoo]

Moderator cut: post you are referring to has been removed


I wish I could help, but have no idea. Have you talked to your current realtor about your concerns?

[sapphire]

You showed your hand when your wife told the seller's realtor she fell in love with it. Keep in mind that it's a business deal, and leave all emotion out of it. It's just a house. It's "home" when you have the keys.

That said, I have no idea about the fraud.

[firstclassflyer]

Originally Posted by sapphire

You showed your hand when your wife told the seller's realtor she fell in love with it. Keep in mind that it's a business deal, and leave all emotion out of it. It's just a house. It's "home" when you have the keys.

That said, I have no idea about the fraud.

Sapphire has hit the nail on the head once again. It certainly is a business deal...nothing more. Don't fall in love with it (at least, don't tell any realtor that you're in love with it).

[vince0975]

Your chances are zero. They never accepted your offer or told you that they will accept the offer. They also did not counter you an offer as well. The seller's agent situation with short sales happen like that all the time. They will keep getting mulitple offers, since the house is selling below market. All you can really do is put your highest and best offer.

[vince0975]

Oh yeah, and the seller's agent or sellers do not have to disclose any offers to anybody before an offer is accepted here in TX, only when the property has sold do they choose to disclose what the house sold for.

[scuba steve]

Sounds like multiple offers in a state where realtors can't (or don't typically) disclose what the other offers are for.

[kevcrawford]

That Realtor is looking out for the seller's best interest, as is their job. Whether or not they're telling you the truth, who knows. However, when a house is up for a short sale, it's not uncommon to get multiple offers, as they're usually priced below market.

As everyone stated above, NEVER get emotionally involved in a purchase. It's hard to keep emotions out of it, but you have to. There is no such thing as the perfect house, so there's always something out there. I work with clients buying and building homes in the multi-million dollar range, and even then, there is no perfect house.

If you REALLY want the house, offer what it takes to get it. If you'll be happy there, it might be worth a few thousand more just so you never have to say "what if". If you think you're getting yanked around and you think you can find another home out there, call their bluff and walk away. They may come back to you.

[fabailey]

wait? Did you in fact submit an offer through your Realtor?