Home Buying in 94596>Question Details

negritabf, Home Buyer in 06468

Is that legal? I was told buy the seller that was the only reason my offer was not sent the bank, cuz she wants to stay in the house as long as she ca

Asked by negritabf, 06468 Tue Oct 16, 2012

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One of the problems we face in Real Estate is the idea that things should be “fair.” Whatever that means. In reality, the world we live in is not fair and real estate isn’t either. As an example, I have over a dozen young couples trying to get into their first home – they’ve waited patiently for the market to hit bottom, have worked on getting their credit scores in line, have saved up down payments, are pre-approved (many are FHA) … and then are getting blown out of the water time-after-time in multiple offer situations homes by cash investors who are then offering those very same homes back to the very individuals who wanted to buy them … as rentals. Does that sound fair? Whatever you decide, it’s very, very real.

A seller can choose to sell to whomever they wish for any reason they wish at any time they wish so long as they do not violate fair housing discrimination rules. They can choose the lowest offer, a cash offer, an offer that closes in 3 months, an AS-IS offer, their friends offer … and so on – and they don’t even have to explain to you why they chose the deal they did. Doesn’t feel fair? It’s because it’s not.

It never was and never will be. As for legal? Totally.
1 vote Thank Flag Link Thu Oct 18, 2012
It is the sellers property and prerogative of when and whom they sell to.
0 votes Thank Flag Link Fri May 31, 2013
Please consult with an attorney or representative of the bank to find out their policies.
0 votes Thank Flag Link Sat May 18, 2013
Yes. It's legal.

Why wouldn't it be?
0 votes Thank Flag Link Tue Oct 16, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
For any necessary legal advice consult with an attorney; keep in mind that the seller can reject any offers he/she wishes.....
0 votes Thank Flag Link Tue Oct 16, 2012
Hi negritabf,

It's not illegal. The seller does not have to sell their house to you or anyone else if they don't want to.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Tue Oct 16, 2012
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