[quote=researcher9] Back to 6721 Camphor … called the Listing Agent (who btw also happens to be some RE Legal/Attorney type) … Wanted to put in the offer but was told “already accepted and locked one in … Not accepting any backup offers” … Reminded her that it’s not ethical to represnt both sides while shorting the bank, neighbourhood and other potential buyers. Was told in a lawyer speak …. “Its OK to do it by Law and legally an agent can represent both sides … Ethics are well Non-technical stuff and its nice to have those too”.
How many times have you seen a deal that looks like this …
Active -> Contigent -> Pending –> “Changed Price while pending” –> Sold.
Lesson learned … if you want to get the “Deal” … join them … there are many out there representing both Seller’s side and Buyer’s Side in a short sale.
Another example from the nearby hood is 1278 Mariposa .. Lost on that one too … learned the same lesson there too.[/quote]
That agent is pure scum, and deserves to lose his license.
I’ve also seen that listing “pattern,” and even worse — where it NEVER was listed as active, just “contingent” the moment it was listed. Otherwise, the same pattern you’ve mentioned. This is why I think the govt needs to get involved, especially if any taxpayer money was used to bail out any of these lenders or mortgage insurance companies. If the banks take a hit themselves, I couldn’t care less, but when the taxpayers are taking losses on these, the govt needs to be fully regulating/controlling every sale.
