agent called me and told me my offer was accepted. next day calls and said it isnt?

Asked by Tracey Bailey, Newport, MI Wed Nov 14, 2012

another buyer was denied offer over phone message called and complained so now fannie mae threw out all offers.

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
Stan Tobiason, Agent, Twin Falls, ID
Tue Jan 14, 2014
Make sure you get both parties signatures on any real estate contract before you get too excited.
0 votes
Debbie Holmes…, Agent, Boise, ID
Fri Jan 10, 2014
The only firm answer is one in writing. Verbal agreements are nice but not legal. They are a preliminary to signatures. It is unfortunate that your agent was given false information by the listing agent.
0 votes
Peak Propert…, Agent, Boise, ID
Mon Nov 25, 2013
Verbal offers mean essentially nothing until the contract is signed by both parties. thats why agents try their hardest to get the paperwork sent over and signed right away. The signature is all that matters, everything else is really just lip service.
0 votes
Sharon Walker, Agent, Boise, ID
Wed Nov 14, 2012
Unfortunately these type of things can happen when the information getting out to people is not accurate or the person making the statement does not have all of the information. Without knowing all of the information, you are never the accepted offer until everyone's signature has been put to paper. On a Fannie Mae offer, you sign and put in an offer and then the offer goes to Fannie Mae for their acceptance. I have had listing agents call me to tell me that my buyer was the accepted offer but it is always subject to Fannie Mae sending their documents out to be signed by the buyer and then they put their signature to the contract. Until that happens and all of the paperwork that Fannie Mae needs signed is taken care of, things can always change. If Fannie Mae has thrown out all offers as you stated, you may have the opportunity to give it another try. Just know that the transaction is never fully finished until everything is recorded on the county records of the property county. f it would make you feel better, I would talk to your agent and get some clarification on what happened. Hopefully you can understand what happened.
0 votes
Shannon Trib…, Agent, Meridian, ID
Wed Nov 14, 2012
It doesn't mean anything until you have pen on paper with everyone's autograph. Even then, things can still fall apart - home inspection, financing falls.....nothing is 100% until we hear those magic words from the title company - We've Funded and Recorded.
0 votes
Scott Godzyk, Agent, Manchester, NH
Wed Nov 14, 2012
An offer is NEVER considered accepted until signed. An agent should know better to tell anyone their offer was accepted until they receive a signature. In bank owned, mpst often the asset manager will accept an offer and issue the sellers property disclosure and purchase addendums. the buyer should sign without delay and listing agent submits. Again it is not final until the seller signs it. It is unlikleley a call to complain would cause an offer not to be accepted as all offers have to be in writing.
0 votes
Bill Eckler, Agent, Venice, FL
Wed Nov 14, 2012
Tracey,

It sounds as though there may be more to this scenario and is probably not a "verbal offer" issue. You may be able to get a better response by considering additional information that clarifies things a bit.

Good luck,

Bill
0 votes
Phil Rotondo, Agent, Melbourne, FL
Wed Nov 14, 2012
Tracey;
Unfortunately this happens more than a few times. Verbals are not worth the paper they are printed on. Until you have a signed executed contract in hand, it's not a done deal.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more