One of the problems we face in Real Estate is the idea that things should be â€œfair.â€ Whatever that means. In reality, the world we live in is not fair and real estate isnâ€™t either. As an example, I have over a dozen young couples trying to get into their first home â€“ theyâ€™ve waited patiently for the market to hit bottom, have worked on getting their credit scores in line, have saved up down payments, are pre-approved (many are FHA) â€¦ and then are getting blown out of the water time-after-time in multiple offer situations homes by cash investors who are then offering those very same homes back to the very individuals who wanted to buy them â€¦ as rentals. Does that sound fair? Whatever you decide, itâ€™s very, very real.
A seller can choose to sell to whomever they wish for any reason they wish at any time they wish so long as they do not violate fair housing discrimination rules. They can choose the lowest offer, a cash offer, an offer that closes in 3 months, an AS-IS offer, their friends offer â€¦ and so on â€“ and they donâ€™t even have to explain to you why they chose the deal they did. Doesnâ€™t feel fair? Itâ€™s because itâ€™s not.
It never was and never will be. As for legal? Totally.