Home Buying in 06057>Question Details

Thisisrandy81, Home Buyer in 06057

Is a real estate broker required required to submit all offers the the seller (LLC)?

Asked by Thisisrandy81, 06057 Mon Mar 12, 2012

There is a local (CT) real estate broker and owner of a local real estate LLC that is representing a seller of a property my wife and I are trying to purchase. When our realtor first approched him he stated "send any and all offers". The house listed @ $299k but needs some work and a garage per HOA restrictions therefore we offered $220k. Without a signed counter-offer from the seller, the broker called my realtor and told her to inform us that we need to "come up". There is no C.O. on the home, it has never been lived in and is approx 5 years old. I have gone to the local Town Hall and had the building inspecter come over to see what is needed for a CO, I have gone to the local health district to aquire any & all copies of permits to ensure everything that is needed has been provided. I have found out that not all permits have been granted. We have made another offer at $250k and now the broker states that the seller wants full asking price but refuses to supply that in writing.

Help the community by answering this question:


The broker is bound to represent the seller...and must present all offers to the seller unless instructed otherwise by the seller. There is no legal requirement to put this in writing, unless the seller wants it that way.
Web Reference: http://www.homesbyminna.com
1 vote Thank Flag Link Mon Mar 12, 2012
Unless the seller has requested the agent "hold back" low ball type offers....most states require the agent to present ALL OFFERS
0 votes Thank Flag Link Thu Sep 6, 2012
Ask the agent to state in writing that he gave the offer to the seller and the seller
responded verbally he wanted full price.

Looks like the seller does not think you are a serious buyer because of' your
low offers and either wants you to get real (closer to the price) or get lost.
Just a theory.
0 votes Thank Flag Link Thu Sep 6, 2012
there's no obligation for the seller to respond at all, and certainly doesn't have to do it writing. The broker obligation is to present the offer to the seller.
0 votes Thank Flag Link Wed May 9, 2012
Once a written offer is presented to a seller (as I assume your realtor has done on your behalf), it's not uncommon for negotiations to be conducted verbally until a final agreement is reached. I don't believe the broker representing the seller is doing anything unlawful. The seller apparently believes he can get more for the property than what you are offering. At this point it's not unlike a game of poker. You put forth your best offer and you either win or lose. With the help of your realtor, you should determine a realistic market value for this property and decide if you want to make that investment. What are other homes in that complex selling for when completed'? If the full asking price is realistic (based on a market analysis) and you are ready, willing and able to pay it, put your offer in writing and see what happens.
0 votes Thank Flag Link Tue Mar 13, 2012
By law, all listing agents are required to give all offers to sellers.
If the seller does not want to put it in writing it might be
that he does not want to put it in writing.

Many sellers feel that if a price is too too too low ..they
do not want to counter unless the buyer is realistic and
by saying full price ...he probably doesnot think you
are in the game at all.

Bring in another offer and maybe next time he will
counter if it is closer to the asking price.

0 votes Thank Flag Link Tue Mar 13, 2012
Of course the broker is trying to get full price for the home - that is the wish of their seller.

The agent most likely called their client and the client told them 'I want full price'. If you want a written counter offer from the seller they are not obligated to give it to you. And chances are that unless you come back with a full price offer, the toxic atmosphere that currently exists between you and the seller has poisoned your chance of buying this house.

Why did the seller come back 'full price offer'? Because your offer was almost 30 percent off of asking price. You lost the interest of the seller by your first offer.
0 votes Thank Flag Link Mon Mar 12, 2012
There is no way to be sure that you offer is getting to the seller. If you have a reasonable cause to believe that it is not, you can alway file a grievance with the board of Realtors.
Without knowing the seller's instructions to the listing agent, it is very hard to determine if the agent is doing anything illegal, or unthical. A 20 minute response doesn't necessarily mean anything. The agent may have made a phone call upon receipt of your offer, and gotten an immediate response. The owner is not obligated to respond in writing if they don't want to.
If you feel that a full price offer is not reasonable, and they are not willing to come down, Then you may be putting yourself through a lot of frustration for nothing. You can't force someone to sell.

If the condo/PUD doesn't have a CO, how are they going to rent it?
What has your agent advised?
0 votes Thank Flag Link Mon Mar 12, 2012
@ Minna Reid, Thank you. The reason I ask this question is because we requested all negotiation be completed by this Friday and a written response/counter to our offers. We have submitted 2 offers and we immediately get told thats not enough. When we 1st contacted the broker he stated to bring any and all offers the seller is motivated and now that he sees our interest he states that his counter (verbal) is full listing price and we received that response within 20 minutes after we requested it.

We feel that our offers are not being provided to the seller and the broker is simply trying to get full price for the home. He stated if we didn't want it he would just list the home for rent.

It's strange because the broker can counter at full listed price without breaking any rules between himself & seller because he's not negotiating price, he's simply advertising full price.

How can I make sure that our offers are getting to the seller and are there any laws that are in place to protest the buyer from this scenario?
0 votes Thank Flag Link Mon Mar 12, 2012
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