Hi Angel,
Yes, it happens. Most likely the property is already sold. REO agents to take offers before the property hits the market.

Sun May 25 2008, 01:19

When you deal with REO, everything is possible. The agent is acting on behalf of the lender who knows nothing about what is going on miles away. Anyway the lender only cares about the $. But it could very well be one of the cases that Roberta mentioned. Let me ask you: was the key ever in a lock box? I have seen buyers agents take the key and not return it on purpose. That is what my manager call substandard agents.

Regarding the legal aspect of it, until offer is accepted there is no obligation to have any inspection. I have seen listing that will promise showing the property after buyer is qualified and offer has been accepted. In other word, first let's agree on the price of the property and then, I will show it to you. You might not like it but it sure saves time to the selling agent and his or her clients.
No matter what when you deal with REO, it's a very different game and you need someone who knows how to deal with it. Give me a call for more info and good luck!
(323)363 91 40

Sun May 18 2008, 23:45

Angel,

There may be certain factors at play:

1. Perhaps finishing touches needed to be completed in the home before it was officially put on the market.

2. Maybe the listing agent did not yet have the keys in hand. I, for example, am still waiting for a set from a seller.

3. Perhaps, as you may suspect, the agent kept the listing in his or her pocket until after the weekend.

I would suspect # 1 or #2 is the case.

Hope you were able to view the property!

Mon May 12 2008, 11:51

Hi Angela,
Not sure I completely understand the situation but what you describe would seem to be working against the agent's own best interest in wanting to get the home sold. Did you mean they put a "sold" sign up? You said they put a "for sale" sign up, which would be what most agents would do when a home is for sale!
Don't worry too much though... we seem to be seeing a lot of hoes falling out of escrow lately, mostly due to stringent and/or changing standards by lenders. Also REOs/short sales/foreclosures can take months for banks to approve so you never know what may happen with them. If you want any home with your search we can help you find a really great place.

Mon May 12 2008, 11:27