agent refuses to take mutiple offer to submitt

agent refuses to take mutiple offer to submitt
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February 19 2010
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Answers (1)

This is a short sale. That means the owner must Accept the offer and THEN it must be approved by the lender. The lender is taking it in the socks so they've final say as to what is acceptable, how much they're willing to eat. The owner can select the offer they chose to forward using any method they want. Your offer MUST be presented to the owner but they don't have to even consider it. Lenders usually request that only the best offer, as defined by the owner, be submitted together with documentation supporting the owners claim that they can not fulfill the loan agreement.

It sounds like a failure to communicate. Trying to simplify often leads to that. 

Here is a link to an explanation of the foreclosure process. It's part of an excellent real estate reference, http://homebuying.about.com,  that you should bookmark for ongoing use. 

Talk with your agent. Talk until he/she clearly explains what is happening. If you haven't a buyer's agent you best read all about buying 'cause it could be very expensive and will be very frustrating as you learn.

 

 
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