Asked by Sacto Buyer, 95864 • Thu May 13, 2010
We called the contact person posted on the door, and met with him (the agent) and his broker. We are interested in using the listing broker, but want to make sure that there wouldn't be a conflict of interest. The home should go on the market any day, and they are just waiting for the go ahead from the bank and the asking price. The listing broker has said that it would be advantageous for us to use him as our agent because of his relationship with the asset manager. We would be an all cash offer.
If we are the first to submit an offer, and it fits the asset manager's criteria, we are told that it is verbally accepted and it goes for higher approval. During this time, the broker cannot pass on to the bank any additional offers that come in. We are really interested in this house and if it's priced as the broker has suggested, it seems to be a real bargain.
Is this chain of events consistent with your experience? Is there a conflict of interest? First REO for us..thanks.
Real Estate in Sacramento
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