must a seller send all offers or only 1or 2 to lenders

Gen711
Home Buyer
Lincoln, CA

Are only the highest 2 offers sent to the lenders or all offers, including cash offers , all though lower , sent to lenders

Answers (2)
Jim Walker
Agent
Roseville, CA

Agent will follow sellers instructions. If it is an REO, the bank may want to see the highest one only or the highest three or the highest five. Rarely do they want to see all offers if there are more than that.

Short sale, probably just the first one or the highest one.

Short sale contingent: offers usually just held in file cabinet by the listing agent unless contract buyer cancels.

Mon Nov 2 2009, 17:23
Don Tepper
Agent
Fairfax, VA
FIRST ANSWER

Your question is unclear.

If you're doing a short sale, you can send whatever you want. Remember: A short sale is a transaction between a buyer and a seller. The contract is contingent upon approval of the lender. So let's say a seller gets a short sale offer. His/her first step is deciding whether he/she wants it. (Doesn't make a whole lot of difference, since the lender won't allow the seller to walk away with any money.) The contract is signed. Then the signed contract, along with the other documents in the short sale package, are sent to the lender for its approval or disapproval.

Mon Nov 2 2009, 17:04

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 66
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback