Profile picture for JustJoe51

Is there anything that can be done if another Agent lies to my Agent and me on a bid i did not get?

  • August 26 2012 - Spring Valley
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (15)

Profile picture for JustJoe51
HI Heather ..   yeah your right on all that you wrote .. what is the best thing for me to do .. any ideas ? should i wait till the spring and see if things calm down ?  keep making bids ? I have FHA loan to buy with i offer to pay the closing and  all the fees . i offer more than the asking price to maybe have more of a chance .  most are short sales i bid on. ranging from 80s and 90s  I know they want the cash offers right now  maybe they dont need appraisal like you said ... the market is going up ive noticed  most houses now are starting at 100K  for the same homes  that were sold for 75   just 4 months ago ..  been working on this the last 3 months  not getting anywhere just getting discouraged and  depressed ....  Even to get a condo is impossible too i thought maybe that would be ok for now.. but same  story ..   any more thoughts and ideas would be helpful thanks for your help and time ... Joe 
  • August 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Joe - There are a number of items that will disuede a seller from your offer. Not sure what your agent is telling you but Las Vegas is a seller's market right now.  Only 20% of the houses listed are available for offers, and more than half of those are juggling multiple offers.  Buyers that ask sellers to pay for closing costs, HOA transfer fees, certifications, are going to be rejected over those that don't.  

Also, an FHA appraisal stays with a property for 6 months. If the seller had an FHA offer that fell thru because of low appraisal, they may not accept another buyer with FHA financing.

Lastly, the houses priced under $100,000 is a well fished pool meaning that about 80% of the deals right now are for houses priced under $200,000.  So you have a lot of competition.  Most houses are getting 5-25 offers.  The nicer the house, the more offers it gets, the better (meaning cleaner) your offer has to be.  If you don't need closing costs, don't ask for them. If you don't need the seller to pay for HOA transfer fees, don't ask for them. The seller will not pay all the closing costs, escrow fees, your title insurance, etc.  That market was last year. This year is a new ball game.  

Cash offers are preferred because there is no appraisal.  Conventional appraisals don't stay with the property and you may get a better appraisal on the next go round. Seller's agents are not obligated to disclose # of offers or what the accepted terms were to the buyer's agent.

Hope this helps you.
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JustJoe51
So Cal ..  Ive  been offering 6 and 7k more than the asking and willing to pay what every they want ... i cant  do any better than that  ... not sure what they want     .. unless they want their own  buyers that are going to that agent for the house . only ...  
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for SoCal Engr
If you're constantly not getting your offers accepted, then there's one of two things going on, or both.

Thing 1 : Your offer is too low, and is losing out to higher offers.
Thing 2 : Your offer has too many contingencies, and is losing out to cleaner offers.

Or, both. As a seller, I have turned down offers that were higher than the one I accepted - based on not liking the overall package. It's not just the price (though that's a significant factor), and it's not just the financing.

In our local area, there have been articles about the competetion for easy-to-flip properties (read "lower price" and "decent condition") between investors and "the general consumer". I don't know if that is going on in your area, but it is what it is - and the investors are not going to go away.

If you're serious about trying to buy, you have two choices.

Choice 1 - Re-assess your valuations (assumption is that you are offering under asking) and determine if your goal is to "get a deal" or "close on a house". Not suggesting you overpay, but maybe decide just how much of a discount you're looking for.

Choice 2 - Accept that your current approach is going to require a lot of offers before you get your foot in the door - and that you may be in competition with investors and this will make the process more painful than you want.
  • August 26 2012
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JustJoe51
So Cal .   Ive also did offers on  forclosures and reg sales and still lost them .. so is that why i might be not winning the bids then ?  im paying by a mortgage ?   at least now i know ...   i wonder how the mortgage companys are making any money if everyone buying cash ...  its really different now buying and selling i guess ...  what would you suggest. for me to do ?  should i wait like 8 months and see if the market changes  a bit ...?  that would be in the spring  time ....  thanks for the helping 
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for SoCal Engr
@ Joe...

I believe it is simply the fact that your offer contains contingencies (i.e. appraisal, financing, etc.). They may be slam dunks, but you indicated you're offering on short sales - and these could have physical issues.

An all-cash offer has the option of not including contingencies (although an inspection seems a must). "No contingencies, and no dependency on external financing/approval" = "clean offer".
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JustJoe51
Ofe ... What is a clean offer basically then ? im paying  FHA and some cash  ..  yes i know i have to pay the  inspection and the closing and the warranty .. and the appraisal .   before  the seller used to pay the appraisal  i know when i sold my house i paid the appraisal  plus i sold it on my own  and saved my self 16k  which sure was a big  savings ... which  that is a lot for doing paper work too . so i did  it on my own i know how  it all works ..    lots of new changes in the last 5 years though ... so basically if im  paying for everything    . it has to be a clean offer   No?
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Ofe Polack
Hi Joe, thanks for responding to my comments, which allows me to clarify a point.  You are the buyer, you will always pay for the home inspection as part of the home inspection contingency, Your lender will charge you for the Appraisal, which is part of the financial contingency. You are supposed to also pay for your side of the closing costs and if they are not offering a warranty, but you want one, then you are supposed to pay for it too.  Therefore, your offer is not what is considered a clean offer.  For instance, a cash offer without contingencies will be favored by the seller.  Is your offer FHA, Conventional or USDA?
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JustJoe51
Maria  they say the buyer paid cash but then i check on redfin and it says   FHA loan like i said    it dont make sense and ive bid high priced on those homes...  does that makes sence..   and then no information given on the price they got ...  they are all short sales  i bid for ...  if i bid 20k more than the offer right are they going to say   oh we got higher but it was cash .. basically im  just getting everyone to pay  a lot more for homes out here . which actually is good for the market  everyone  will be paying lots more  to beat my offer.  they never call back to say  we got this offer do you want to go higher .  just no call back ....  i would at least be calling everyone back. that put the offer in took the time to check out the house .. at least...  but  not going to happen .. not everyone is like me i guess ..  what can ya do.. just have to keep trying  Thanks ..
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Please remember that the listing agent works for the seller and owes the seller confidentiality. Therefore the agent is not at liberty to provide info that is the seller's. Not provuding due to confidentiality and lying are different. Unfortnatdly it would be hard to know if they did.lie. For the same reason. Best o Uck
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JustJoe51
Mark..  been offering bids on houses here that are like 85k  to 95k  in Vegas here thats what the going rates are right now ... prices have dropped way down ..  
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Can I ask: what's your price point?
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JustJoe51
Basically Ofe ..  we put in the offer and i offer to pay all the closing and all those things and then a few days later we find it was sold and i say its not cash its loan .  and she calls the agent but they wont give us no information at all.   like its all secret ...     Im  offering 6 or 7k  more on the asking  willing to pay the closing  the appraisal the  home inspection the home warranty and still nothing .. just very odd  on it all.   this is basially what ive been going thru since June .... 
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Ofe Polack
I can feel your frustration, but it is not always the amount of money but the terms of a contract that attracts the seller to accept an offer.  A clean contract without contingencies may appeal more to a seller than a higher offer with financial and home inspection contingencies.  What does your buyer agent has to say?  If the buyer agent feels that something is wrong, she/he may want to raise the issue with the listing broker. 
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JustJoe51
I have been putting bids on homes the last few months and  the  Agent of the sellers keep telling us that  someone bid higher than me and paid cash . then i go in and check to see how the house was sold in the terms and it says  Loan FHA  or Conventional. to me that is not fair and they might of sold it to  someone they knew or  something of that sort . to me that is wrong ...  if the house is  selling for 86k and i offer 95k  they just keep telling us  that  someone had a higher bid with cash ..  then i find its not true. can anything be done ..?  Im waiting to see what the actual selling price is once its closed then i will know more information  if they lied on the selling price too ...   its a bit frustrating  and i dont like being lied to .  One thing  if its sold cash and thats why i didnt get it but  sold  FHA  and then told it was cash .    just not right .......
  • August 26 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.