Can a real estate agent just not puta bid in?

Get Legal Help Today

 Secured with SHA-256 Encryption

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 10 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.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption