Question Details

Yavonne, Home Buyer in Minneapolis, MN

can i submit an offer myself without an agent and if so how do I find out which bank I submit to?

Asked by Yavonne, Minneapolis, MN Fri Jul 25, 2008

the house is a quick sale and time is running out and I'm kinda loosing trust in my realestate agent....

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If you are working with a listing agent, I can see that happening; an agent representing the bank considers you as a customer. Working with a buyers agent, you are the client not the customer and the agent is responsible of taking care of you. Find a Buyers agent, the bank will end up paying the agents fee.
0 votes Thank Flag Link Tue Jul 29, 2008
Hello Yavonne. If the house is listed with an agent, then the offer has to be submitted to the listing agent, who in turn submits a short sale package to the lender(s). If the house is not listed with an agent, you'd have to submit your offer to the property owner, who then would have to deal with the banks and negotiate the short sale. In short sales, the banks are not the property owners, but they have to approve the offers because they are not getting paid in full at the closing. However, the contract is still between the property owner and the buyer and the banks approval is a condition, which means that the seller can't sell unless the bank approves the contract. While you can theoretically submit an offer without an agent. I would not recommend it as you want to make sure that the offer contains all the necessary short sale terms. Good luck to you.
0 votes Thank Flag Link Fri Jul 25, 2008
Ute Ferdig -…, Real Estate Pro in New Castle, DE
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