[quote=urbanrealtor]The seller (by way of their representative) have the right to accept any offer for virtually any reason (hair color, political affiliation, cleft palette).
While the bank sometimes requires that they be informed of any offers right up until closing, most do not require that anymore.
Most sellers will not want to change horses mid-stream.
Changing buyers tends to complicate a short sale negotiations in my experience.
I generally will go with the first offer that is likely to close and get approved.
Also, the seller does not have the right to rescind acceptance in California.
Kicking an accepted buyer out just because a cash offer came in the next day (even if it is higher) is something that could put land a seller (or agent) in court.
Based on your description, this is not necessarily a case of the agent burying your offer.
I have (many times) done exactly what you say this woman is doing and there is nothing unethical or illegal about it.
The banks generally do not have a right to all information about a seller.
It is illegal, unethical, and incredibly irritating when an agent does hide an offer (though hard to prove) from a seller.
That is why most agents will not show Battiata listings.
His team has a demonstrable track record of doing that (if he threatens me for posting this, I will post scads of potentially defamatory evidence for your review).
However, Adam’s suggestion that you contact their broker will probably be fruitless.
If you contacted me about one of my agents doing this, I might inquire with them but it would be unlikely to result in anything but a dial tone.
Your just pissed because you had crappy timing and now the window of opportunity has closed.
As long as your offer was presented to the seller (the bank is not the seller), the listing agent has acted appropriately.
Fail.[/quote]
If the taxpayers are responsible for propping up the banks, you’d better believe this is unethical, and it should be illegal. This is defrauding the U.S. government/taxpayers.
If the lenders were personally taking the hit, I wouldn’t care one bit, but if the taxpayers are on the hook, this needs to be fought tooth and nail.
BTW, a lot of these deals go through because the agent lists the house as contingent the moment it hits the MLS. That is BS!
