alright, now i can tell you hit a sensitive question here, and I think it can best be explained like this. if i was a listing agent, and some customer or agent gave me a WRITTEN OFFER, then I would make my sellers sign the decline sheet, regardless of what anyone else thinks. iT'S MY REPUTATION ON THE LINE, AND I WOULD NOT ACCEPT ANYTHING ELSE BUT THAT.
However, if I'm the selling, agent, it's totally optionable. for example, what if you don't think your pre-approval letter is any of my business? Would you say it fair to assume your going to adhere to everything you have to do to make it a legit purchase bid offer?so that's my take on this.... more
Agents are required to submit all purchase agreements to their sellers unless the lender (seller) specifies that there is a minimum amount they will accept and also specifies that they do not want to consider all offers. The offer would require proof of funds for the lender, or any seller, to make a decision on it.
These agents have it right, you need your own buyer agent to represent you so you can get the highest quality service possible. If you don't already have a local agent, give me a call. I may be able to help you.
Real Estate Broker, GRI
McColly Real Estate
219-671-1009 cellular... more
Some banks will only entertain one offer at a time. If the first offer is in negotiation they will not look at another. The listing agent is bound to summit your offer but must also adhere to his seller's wishes. It would be unfair if after accepting an offer the bank then changed their mind because they got a better offer. That is why they won't look at a second offer after one has been accepted. Some times the offer will be accepted as a a back up offer in case something goes wrong with the first. Each seller has their own rules and way of handling reos.... more