Is my realtor playing games? Queens area purchase (New York, York: real estate, home)

[paradigmGT]

I saw an REO home in the Jamacia queens area. I decided to contact the selling agent directly about the home.

I submitted the offer. Seller calls back saying I should up my offer because likely Ill only have one shot at submitting an offer so I should make it my best possible one, so I raised the offer. She also said I should have a reply within 24 hours.

A few days pass and she calls back saying I should raise my downpayment; this had me baffled because the seller in the end gets the same amount regardless of my downpayment. I decided at this point to raise my offer one more time. Another 48 hours has passed with no answer.

Seems to me like the seller is playing games? They seem to be trying to collect as many offers as they can to play them against each other and try and get people into a bidding war? Is this legal for them not to respond to an offer within a certain amount of time?

[asteiker1]

Hi there,

Real estate agents are required to present any offers to the seller and, ultimately, the seller can choose to do what they please with those offers which includes instigating a bidding war or asking to increase the bid. I would be careful and make sure that the agent you are talking to is actually the exclusive listing agent. If they aren't, this would explain the long delays in getting back to you. If they are, as long as they are preforming their fiduciary duties to the seller then they are not violating any laws. I would recommend asking them to verify their role and to provide you with a disclosure form.

Hope this is helpful. Feel free to reach out if you have any further questions. Thanks.

__________________
Andrew Steiker-Epstein | Licensed Real Estate Salesperson
The Corcoran Group | 30 Irving Pl, 5th FL | New York, NY 10003
O: 212-500-7000 | C: 215-431-1408 | asteiker@corcoran.com