Just keep in mind you never really know what other people are doing and someone may have placed an offer at any time.
I hope all works out for you!
your involved in is handled without any funny business. As a listing agent myself, I would never fake an
offer mainly because of my reputation but also the fact remains that if there is no other offer and you pull your offer off the table, that agent just did a hugh injustice to you and his/her homeowner. Because now they have nothing.
Not involved with all particulars "he said she said" I don't believe they are playing games
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
There is no way to "fake" an offer on HUD owned properties.
All offers are submitted on line by HUD certified agents. In addition the agent is certifying they have the Earnest Money check in their possession and must send all documents to HUD within 48 hours of acceptance.
On the other hand it is illegal in most states for a Buyer's agent to pay an incentive to a client as an inducement to get their business. If the commission reduction you speak of is evidenced by a reduction in the sales price and is disclosed to all parties it is acceptable. However, if the agent is paying cash back to you after closing it a license violation and is definitely not OK.
In distressed property or bank owned properties it is not unusual for interested parties to appear out of nowhere to make an offer. In many instances the selling prices get bid up so as to make the "deal" closer to market value or even exceed market value.
Good luck in your search,
I would be surprised, there is no real incentive for the agent to do that. Spite? maybe....but it's now clear that you are not going to work with him, so he does want to get the home sold. Also...on a HUD property, the offers are submitted online and by approved agents, so it's unlikely that he would submit an offer that was a fraud, too much liability and visibility.
HUD is a totally different type of system....in that you have to be a registered HUD agent to make a bid. All bids are done on line. In the past you could see what bids had been made but with the new system you can't see if a bid has been made or accepted.
In short there is no way an agent can manipulate the system!! HUD is in complete control!!
But the fact that you didn't know about another offer, doesn't mean there wasn't one. The seller (or in this case the seller's agent) is under no obligation to tell you about any other offers in the cue. And particularly if it's a HUD property, the listing agent might not even be aware that another offer was in the works.
It seems highly unlikely that they would create a fake offer, to punish you, and give up a real offer.
To keep things on the "up & up" consider contacting HUD directly to see if indeed the agent's information is accurate. If there is some manipulating going on, I'm sure they would like to be made aware of it.
The Marie Souza Team
Cape Cod Real Estate Services