Selling agent took offers, but told us to bid $250,000 specifically and that the bank was guaranteed to take it. After offer is accepted, zero contact. I eventually was able to contact him by leaving a message saying that I was interested in a property that he listed (he knew my agent but not me) and then telling him the property I was interested in I had already bid on and he wasn’t returning my agents calls. He was reassuring again.
A week or so later, he emails telling us we didn’t get the offer. House sold for $250,000, shows up a week later as a listing again for $320,000 with the same selling agent.
So much for a “free market”.[/quote]
paulflorez, I didn’t research the property but have a couple of questions.
How do you know it “sold” for $250K a week later?
If it DID recently sell, was the listing agent, his broker or a “straw buyer” on behalf of either one the “buyer?”
Did the listing agent or his broker have a financial interest in the property when it was bought in 10/09 for $320K (within the period of time of the local market “trough”).
Did you ever ask why it was listed at $250K when it was bought only three years prior during a period of low MIR’s and low prices? If so, what story did the LA give you?
Hopefully, you may know the answers to any of the above three questions, which would shed a lot of light on your “experience” with the LA.
edit: see bolded portion
paulflorez, could YOUR agent actually have bought the property (under a spouse or relative’s name?) or gotten a straw buyer on his behalf before the short lender to purchase the property for $250K cash in order to effectively eliminate the higher debt on it. Could it be that he had his “bid” considered in lieu of yours in exchange for a another listing to the SS LA upon closing?
