http://www.trulia.com/voices/Home_Buying/I_have_made_an_offer_on_a_house_for_the_list_price-120999and the selling agent has informed me that she will not except my offer, even though its the list price, because the offer is too low. She further explained how the she and the bank will only except the highest and best offer; so she will not submit my offer to them. Is this legal or just highly unethical?en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-Southaven_MS-70495/http://www.trulia.com/voices/profile/Real_Estate_Pro-Southaven_MS-70495/Shaun, Your post is a couple of months old. I was wondering if and how you resolved your issue. Curious to know your outcome. Thanks Carrie Crowell Keller Williams Realty carriecrowell@kw.comMon, 06 Jul 2009 05:52:48 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Memphis_TN-277528/http://www.trulia.com/voices/profile/Real_Estate_Pro-Memphis_TN-277528/Good Morning Shaun, The agent has a duty to present all offers to the seller UNLESS the seller has told the agent, in writing, not to present any other offers. I do hope you have an agent working for you! I wish you all best!Mon, 18 May 2009 10:15:54 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-Memphis_TN-144181/http://www.trulia.com/voices/profile/Real_Estate_Pro-Memphis_TN-144181/The first question I have is do you have an agent? If so, then I would recommend consulting with your agent. Based on the limited information, it is not uncommon for homes under multiple offers. The seller's objective (bank) is to sell the home for the highest price possible. In multiple offer situations it is not uncommon for homes to sell for more than the list price. It is based on a the marketing laws of supply and demand. The listing agent has a legal responsibility to present all offers. However, the seller does not have to accept the offer. If you are not using an agent, this is the reason why having your own agent representing you is highly recommended. I do a foreclosure bus tour in the Memphis market and come across questions like this on a regular basis. I hope this helps. Let me know if I can be of further assistance. Thanks, Jason Gaia, ABR, GRI Office: 901-751-4357 Fax: 901-261-2267 Jason@JasonGaiaTeam.com www.JasonGaiaTeam.com Prudential Collins-Maury, Inc., REALTORS 968 Civic Center Drive #103 Collierville, TN 38017 Company: 901-259-8500Thu, 07 May 2009 07:20:17 -0700http://www.trulia.com/voices/profile/Real_Estate_Pro-38017-615651/http://www.trulia.com/voices/profile/Real_Estate_Pro-38017-615651/Shaun, This is not uncommon in a bank owned situation. This occurs when there are multiple offers, the selling agent should have informed you of this, if this is the case. Frequently the seller, in this case a bank, will ask that everyone submit their "highest and best" offer and the bank/seller will decide which offers to reject and which offer to either counter or accept, also note that price is not always the deciding factor. The seller's agent cannot reject any offer as long as the offer is made with all the required documentation. It is the duty of the selling agent to present ALL offers. Give me a call or drop me a note if I can be of further assistance Gerald Williams Affiliate Broker Mortgage Loan Officer BenchMark Realtors, LLC BenchMark Mortgage, LLC 901-413-2233 gh_williams@yahoo.comThu, 07 May 2009 06:42:41 -0700