Can an estate agent withhold an offer?
Can an estate agent withhold an offer?
The buying agent must record all offers received and not conceal, misrepresent, withhold or delay communicating offers. It is the seller who decides whether to accept an offer; to reject an offer; when to stop marketing the property after an offer has been made, and to whom to sell the property to and at what price.
Do you need a realtor to make an offer on a house?
In many states, sellers must comply with certain disclosure rules, and a real estate agent will ensure that they do, as well as answer any questions you may have during the sale. If you are not working with a Realtor, keep in mind that your purchase offer or contract must conform to state and local laws.
Why do real estate agents request a pre-approval letter?
There are many reasons why real estate agents request a pre-approval letter before getting in their car and driving buyers around town showing them homes. Below are the top reasons why real estate agents will request a pre-approval letter before showing houses to a buyer.
How to tell if an offer has been rejected by a listing broker?
Listing brokers – here is a great way to document that all offers have been presented by you to the seller: After the listing agent presents the offer to the seller (and the offer is then rejected by the seller), write the word “rejected” in large letters diagonally across the page. Then have the seller initial and date under the word “rejected”.
Can a real estate agent make a low ball offer?
The other day a buyer called and wanted to see a property that was new to the market. After showing the couple the home, they decided they wanted to make an offer. So we showed the couple the home, and they liked it enough to make an offer. A low-ball offer. A ridiculously low, low-ball offer.
Do you have to submit all offers to seller?
This article looks at the rule that all offers received by a seller’s agent must be promptly submitted to the seller for their acceptance, rejection or counter, and dispels the myth that California real estate brokers and their agents are only allowed to use real estate forms published by trade unions. Arrogance in defiance of fiduciary duties
Listing brokers – here is a great way to document that all offers have been presented by you to the seller: After the listing agent presents the offer to the seller (and the offer is then rejected by the seller), write the word “rejected” in large letters diagonally across the page. Then have the seller initial and date under the word “rejected”.
Who is responsible for not submitting an offer?
The seller’s agent, generally unfamiliar with the form the offer is written on and unwilling to read and review it, does not submit the offer to his seller. The seller’s agent advises the buyer’s agent that if he wants the offer submitted it must be written up on the trade union’s “standard” form.
How long do you have to wait for a realtor to respond to an offer?
But how long you have to wait is the bigger question. While there’s no official rule on how long a seller can take to get back to you, there is an industry standard that most real estate agents and sellers tend to follow.