Home Buying in 32541>Question Details

Wanda Martin…, Home Owner in 80135

made a offer on a Bank owned property and the agents were emailing offers back and forth, now can not get a response

Asked by Wanda Martinez, 80135 Mon Feb 4, 2013

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0 votes Thank Flag Link Tue Feb 5, 2013
Hi Wanda, sounds like there were multiple offers on a foreclosure property. In this case, there is a lot of communication while the offers are being prepared to send to the foreclosure bank. Frequently the only one that gets a notification is the offer that is accepted. Not saying this is good practice but it does happen. My guess is that you were not the winning bid. If you were, the bank's agent would have been very quick to notify you as such.

Not defending, but this does happen.

Myke Triebold, GRI, LMC, SFR, ABR
0 votes Thank Flag Link Mon Feb 4, 2013
So could you explain how this works. First Look Initiative is, and why this did not apply. we made the offer in less than 5 hrs after coming on the MLS. And were told no offers had been presented. Really gives a very nasty impression of agents. And tell me how we trust other realtors if this is how they do there job?
Flag Mon Feb 4, 2013
Do you mean that your agent can't get a response from the seller's agent? Were there multiple offers? Possibly you were not the highest and best offer. Your agent should be able to tell you what the problem is.
0 votes Thank Flag Link Mon Feb 4, 2013
The sellers agent and at the time we made a offer no offers were on the table after going back and forth on the deals. Like the closing date we wanted earlier they want later. It is a Freddie Mac home and my understanding from Freddie Mac web page First Offer Initiative is in place for 15 days,The sellers agent was not responding now he says there was another put on the table too a couple of days later. We offered full.
And we have been pre-approved for the amount.
Flag Mon Feb 4, 2013
I'm not sure I understand what the question is that needs an answer. Who is not responding?
0 votes Thank Flag Link Mon Feb 4, 2013
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