I am trying to put an offer on a house for personal residence. It is listed for 207k. I have a couple of houses that I like and trying to place an offer on this for 180k based on the current market conditions. The realtor as soon as he reached his office sent me a text msg saying. " I just found out that there was an offer on the house that didn’t work out, which started at $190k. We will need to be at least be at that price or they will reject it. They have had a lot of interest in that house. How do you want to procedd."
My question 1 is - Is it legal for him to disclose me the other party’s offer.
Question 2 - When he sent me a message this morning saying that they rejected my $180k offer. I didn’t see the sellers signing the rejection in the contract. Did he really presented the offer? How would I know?
Pete,
Thanks for your post. I am using my realtor for writing offer and negotiation. But, the listing agent (seller’s agemt) is also from the same company.
Pete is correct. As I like to say it is important what you call things. Tje agent has to represent either the seller or the buyer. Not both. If there is only one agent then he represents the seller no matter what he tells you. The sellers agent by law must do everything in his power to get the seller the best deal. If you have an agent and he finds information that is not illegal and he must use that information to help you.
The amount of that last offer is not of concern to your deal because it may have fallen through for any number of reasons. You are going to offer what you want to pay not what those last people wanted to pay.
By law, The listing agent has to present all offers to the seller in a timely manner no matter what the offer is. The listing agent is not to act as a filter for certain price points, but to present all offers and advise accordingly. Make your offer and best of luck! :beer