Can a real estate agent just not puta bid in?
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Can a real estate agent just not puta bid in?
This house in question has been is foreclosed on. I understand that if the seller says that they don’t want anything sent to them lower than a certain number. but. The house was $46,900 and he told us that there were other bids for $35,000 and we should go higher. He said they were cash offers and we have a mortgage approval and probably wouldn’t get the house. Well, we didn’t and don’t think the house is worth more so we bid $35,000. He called us back and said he wouldn’t put anything in below $40,000. There obviously wasn’t any other bids because in the last week it went down another $7000.
Asked on August 5, 2010 under Real Estate Law, Ohio
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
A realtor is not obligated to put in an offer or bid. On the other hand, you are not necessarily obligated to only go through the realtor. That is, the realtor may have to get his or her commission depending on the contract, circumstances, etc., but there is no legal reason why you can't pick up the phone, drop a letter in the mailbox, send an email, or even just ring the doorbell and tell the seller (or the bank, if it's been already taken over by the bank) that you would like to offer $XXXX for the home; would the seller be interested in discussing it? If they are, you may later end up talking to the realtor again as the seller's agent, but remember: the realtor cannot physically prevent you from reaching directly out to the seller, and especially if you think the realtor is not following instructions, this is an option.
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