Home Buying in Olathe>Question Details

Kathy Mattox, Home Buyer in Olathe, KS

Is there any way to know if a bank is telling the truth about there being multiple offers on a foreclosure?

Asked by Kathy Mattox, Olathe, KS Tue Apr 7, 2009

I previously asked the question about how long to wait to know if our offer was accepted in the case of multiple offers. It just seemed strange to us that our offer was placed and then the very next day they reduced the price by $20,000 and then said that there were multiple offers. My question is: How do you find out if there really were multiple offers and can they do it this way? Why didn't they just respond to our offer and let us counter offer? Is this the way the bank can get you to offer a higher price? Seems a little shady to me.

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What does your realtor say about the situation? Did you use the realtor who had the property listed or did you have your own?

I am not familiar with your property or exact situation, but the seller doesn't have to tell the buyers agents how many offers they have. They can look at multiple offers until they start to negotiate with a specific buyer. Even then, they may still continue to receive offers.
0 votes Thank Flag Link Tue Apr 7, 2009
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