HELP! Realtors wont submitt my above asking price Cash offer on Forclosures

**Bob** · 03-02-2009, 03:49 PM

I need some help as I am truely discusted, This is my 4th time trying to buy a forclosure in Cape Coral.. what I am finding out is the realtors are either playing favorites in submitting thier "own" clients to the bank so they can recieve full commission or submitting the 1st offer they get and refusing to submitt any others..even if they are higher.. which is wrong... Today a forclosure came on the MLS at 10:30AM , I immediately looked at the house and at 2:00PM called my realtor to put in an offer $5k over the asking price.. he called that realtor and was told he already had a good offer and didnt need another.. so I again am screwed.. How can I get the bank to look at my offer..forclosures are supposed to be compeditive and the highest bidder wins.. My realtor told me to try and contact the bank and make them force the realtor to submitt my offer..My realtor submitted my offer at 5:00PM .. anyway. can someone help me find the contact info for Deutsch Bank national trust ATF Wamu

**Codythebest** · 03-02-2009, 07:11 PM

Get your own license. I passed mine just because agents were not doing what I wanted them to do: presenting all offers. Now, I present mine

**agentsranking** · 03-03-2009, 08:08 PM

On this particular deal you aren't going to get anything done. The bank absolutely will not speak with you directly. They have thousands of homes that they are trying to liquidate and don't have time to deal with individuals calling up to complain. You are waiting to long to look at the property and to write you offer. Get to the property first thing in the morning and be prepared to write your offer within 10 minutes of viewing it. In your case it sounds like someone else did just this.

**First Time Home Buyers** · 03-04-2009, 03:52 PM

Echo most of what has already been said.

I would add that in this market, there are a TON of great deals, so getting into a bidding war with another offer isn't worth investors time unless it is by far the best deal.

Bottom line is that it's the bank's property, and they can sell it however they want to. Whether that's "playing favorites" like you stated, or asking for "highest and best" offers by 5pm the same day.

They are the one in control of the home, so we all have to play ball (unfortunately)

**Krsdj1** · 03-04-2009, 04:02 PM

Originally Posted by First Time Home Buyers

Echo most of what has already been said.

I would add that in this market, there are a TON of great deals, so getting into a bidding war with another offer isn't worth investors time unless it is by far the best deal.

Bottom line is that it's the bank's property, and they can sell it however they want to. Whether that's "playing favorites" like you stated, or asking for "highest and best" offers by 5pm the same day.

They are the one in control of the home, so we all have to play ball (unfortunately)

I also think its unfair. I tried once to make an offer on a house and the agent told me the offer was to low and another buyer offered cash. This was months ago and the house is still up for sale later on the agent called me up and asked me if I was still interested at that point I did not trust him and passed on that place. There were a few other reasons besides him