Lucy,

Was this house being sold as a "short-sale"/pre-foreclosure? I can't imagine it being under contract for 10 months if there wasn't bank involvement. Usually short-sales take 6-12 months to close.

I can't answer your question if you offered too low without knowing more about the property and what the asking price was. Only with this information would I be able to tell you what the property could trade for in today's market based on what has sold that is similar to it.

If the property is out of attorney review and is under contract, you can still make an offer, however your offer would be placed as a backup offer in case the accepted offer falls through. The Realtor cannot tell you what the current offers are on the house. All offers are held between the listing agent and the seller.

You may want to find out who the attorney is for the seller and present your offer directly to them.

Please let me know if you have any additional questions. I'll be happy to assist.

Sincerely,

--
Walter J. Burns
Realtor-Associate
Weichert Realtors
1 Newark St.
Hoboken, NJ 07030
201-653-8488 Ext: 230
201-694-8946 Mobile
201-653-4154 Fax
wburns@weichert.com

Lucy,

I'm not sure why any realtor would take a listing and not cooperate with other brokers and agents. With that type of service you are doing the seller no justice but in any event back to your question. If the house is "under contract" status - it would not show up on a public mls or other real estate site anyway. Do you know for a fact that is was never listed on the mls or is it just now showing up any longer? When you put your offer in, did you put it in writing? Was the house under contract at the time of your offer? If so, it can only be held as a backup offer but if you put your offer in during attorney review or prior to the other offer, the offer should have been presented to the seller. Perhaps with a little more information from you, we can assist you better.


As far as the other offer, the realtor cannot tell you what that offer is. If you really want the house, put your best offer on the table and at least you know even if you don't get the house, you gave it your best! Believe me I've heard straight from the horse's mouth after they didn't get a house because of their offer, turn around after it sells and they know what it sold for..."say I would've bought it for that amount or I would've paid $5,000 more than what they sold it for". My reply is always the same..."I suggested you offer your walk away price...the price you were willing to lose the house for and you didn't". It's sort of like an "I told you so" after the fact but I think most of them learned a valuable lesson.

Good luck.

Gina Chirico, Sales Associate
Prudential NJ Properties
973-715-1158 cell
973-992-6363 ext 116
Gina.Chirico@PrudentialNewJersey.com

Hello, Lucy!
I understand your problem.
I think you should make a full asking price offer, of course if current sales numbers suuport this asking price.
The house of your dream is under contract and seller must somehow to breach it and accept your offer.
Your Realtor may find out why contract is not "closed"yet, find out if it is a solid deal, and if you have a chance to get it. So, talk with your realtor.
Sincerely,
Yelena

In our state, the listing agent ronly epresents the seller, Lucy, and by contract, must get the highest and best price for that property. That realtor in your state cannot likely reveal any information that would jeopardize the relationship. In my opinion, if that house is the one for you, raise your offer until you get an acceptance and a binding agreement.

The realtor is ethically prohibited from disclosing the current offer. Your only option would be ask if the agent is wiling to take back up contracts. Is this bank owned? that could explain why it is still under contract after 10 mos. Also it might be a lease purchase,and those are sometimes listed as under contract during the length of the lease.