Actually response times (at least here in Michigan) are not upholdable in court, so they really don't mean anything. Response times are more of a courtesy than anything, and when you're dealing with a bank repo you have to play by their rules or don't play at all. Sorry that's not what a buyer wants to hear but it is reality. Think of it this way, if you put you want a response in 2 hours and you insist on it then how about the seller just says, "ok, my response is rejected!" I'm sure both the list and selling agent would have wanted an accepted offer too to get the deal closed, not have to deal with an auction. I really think this is a seller problem.

Your offer should be presented to the selling agent within an hour of completing the paper work. Your agent should also put a response time back from the selling agent withing a few hours so as not to come across the situation you did. (by putting a response time - you can typically avoid multiple offers - not always - but most of the time).

Robin and Kay:
Standard of Practice 1-6

Duties to Clients and Customers
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I see you got thumbs down for quoting the code of ethics too.

This is obviously a repo and your situation is very common for what is going here. We have little control over the way the repo sellers work, and the seller dictates how offers are presented, not the agent. Most banks will not allow an offer to be presented without an acceptable pre-approval letter. Other offers can be considered until one is actually signed by the seller, and the seller has the right to pull the listing and sell it at auction at any time. As frustrating as it is, it is the seller's choice and when dealing with the bank-owned homes, this happens often and without warning. Your agent can probably still represent you at auction and the auction company may even take offers pre-auction, just now at auction terms, so if it's the house you want, keep trying! Good luck!

Tina,

I would agree with Scott. Although you provide many details, they are not the details needed for good suggestions. Kay and Robin provided good information from the Realtor(R) code of ethics and if the selling agent is a Realtor(R) they would be bound by that code.

Your agent would be the correct person to answer your question. I suggest contacting them and getting an explaination of what occurred. It may be that your offer was actually presented, but the home went into foreclosure before you provided all the paperwork necessary for your offer to be presented.

In most cases, agents can assist you with the purchase of homes at an auction.

Standard of Practice 1-6

Duties to Clients and Customers

Article 1
When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord, tenant or other party in a non-agency capacity, REALTORS® remain obligated to treat all parties honestly. (Amended 1/01)

Standard of Practice 1-6
REALTORS® shall submit offers and counter-offers objectively and as quickly as possible. (Adopted 1/93, Amended 1/95)

Too many details to say for sure, but in North Carolina we much present offers to sellers as soon as we possibly can. It is an interesting twist with the requirement of the pre-approval letter, often listings will say they are required along with an offer, but I would still think it appropriate to at least let the seller know about the offer and let them see it.