Time is of the essence

**wheels15** · 08-27-2010, 05:01 PM

how can i find out if the bank has requested that all offers be submitted to the bank, because the sellers realtor has only submitted the first offer and refuses to submit any other offers unless the original offerer pulls out. is this right . i really feel that any other offer is being put aside and never submitted . doesnt this bother any one but me. i believe that the realtor is partners in this , in my mind, illegal, unethical, etc. venture. PLEASE GIVE ME SOME ADVISE, TIME IS OF THE ESSENCE. THANK YOU

**fsboladysc** · 08-29-2010, 03:17 PM

First of all I would like to reply to this question for you but I need to know whether or not you are talking about a short sale offer or just a regular offer that you have made on a property that has already been foreclosed on. With a short sale there is a situation that may have happened with your offer.

Respectfully,

fsboladysc@gmail.com

**markbrian** · 08-30-2010, 05:01 AM

We will need more details to help you. It may be that the first offer was submitted and verbally accepted by the bank and the listing agent has been instructed by the seller to NOT submit any more offers. But really without more details it is hard to say, so please give more details in chronological order of what happened.

**Greg** · 08-30-2010, 06:47 AM

It sounds like you made an offer on a short sale. this is common strategy for sellers with a short sale.

You titled your post 'time is of the essence" so it sounds like you have limited time to make this happen. If so, STOP looking at short sales. They can take forever IF they actually do close.

**Luxury Homes Tampa** · 09-03-2010, 02:10 AM

Are you talking about short sale? I would never prefer short sales. I mean it is good for making money fast but somehow i don't feel the short sale idea better.

**Jonathan Radford** · 09-03-2010, 01:35 PM

They might not want to submit any other offers because they are already committed to someone and are simply waiting for the deal to go through. At this point, it's more important that they sell the house than it is to get a slightly better price - therefore they will stick with the buyer that they feel has the best chance to close. You can perhaps call the bank but they will probably just direct you to the seller's agent.

**REman** · 09-07-2010, 09:20 AM

If you're a Realtor yourself then you should ask your broker this question. If you are not a Realtor then you should have a Realtor representing you because he will know if the other Realtor is doing something unethical and not let you deal with him.

**EricRE** · 09-07-2010, 10:25 AM

Sounds like pretty common practice to me and do not see anything illegal or unethical with it....it really just depends on the institution that is being worked with thought...if you are tired of short sales (which im assuming it is) then you can always try to hone in on standard sales. Are you an agent yourself?