Home Buying in Knoxville>Question Details

Yesgs, Other/Just Looking in Knoxville, TN

why does a property shows under contract when it really isn't (but it really was)?

Asked by Yesgs, Knoxville, TN Mon Sep 5, 2011

Agent says it not really under contract it's to detour potential buyers but. in actuality I found out he was holding out for the neighbors who wanted the property, I bid as owner occupant and they as investors it was showing Active for 5 days and then went Under Contract.... lots more involved.. Pictures, filings, documents, emails, listings before, during and after. REALTOR LIED TO KEEP ME FROM BIDDING TOLD ME I HAD TO BID INVESTOR ... BUT, I DID NOT because I WAS owner occupant for fannie mae cash sale, told me I would have 5 days to get it in move in condition and provide an contractors affidavit, that didn't work told me it was a tear down. but, it wasn't. ... Neighbors filed false paperwork, They don't know I have pictures of the whole process and all the documentation of what really went on 4.38 acres and a 1870 brick house... bought by the adjoining neighbors.

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Are you represented by your own realtor? What does your realtor tell you? You may want to pose this question to your realtor and his/her broker.

The seller makes the decision whose offer to accept.....so even if you bid, but the seller prefers to sell to the neighbor with whom he may have a long-lasting friendship, the decision remains the seller's, not his realtor's..
1 vote Thank Flag Link Tue Sep 6, 2011
"why does a property shows under contract when it really isn't (but it really was)?"
Separating your question from your rant requires asking additional questions.
#1. Where are you seeing this property appearing as under contract? Please include an MLS #.
If you are not looking on the local MLS, you will need to ask the website administrator this question.

#2. Your real estate professional will have reviewed the submission instructions included in the listing information. Many instances this procedure is to be compliant with the sellers needs. Yes, the seller can define the type of offer they will accept such as: NO FHA or VA, Cash or Conventional only AND dictate what form the offer can be submitted on and when the offer will be reviewed by the owner.

#3. Did you actually have your real estate professional submit an offer to purchase this property? No need to continue this conversation no purchase offer was submitted by your real estate professional.
0 votes Thank Flag Link Tue Sep 6, 2011
Remember you can always submit an offer on any property even if it is in pending status. Just request a back up offer be submitted. Realtors are required to submit all offers. I'm sure you know buyers have to sign a form to Fannie Mae that they are or not owner occupants. I hear the fines are pretty tough for not being truthful so I wouldn't want to test it!
0 votes Thank Flag Link Tue Sep 6, 2011
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