Zillow Advice: Buying Process - What rights does a buyer have in California when it comes to submitting an offer? http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ Zillow Advice | Zillow Real Estate Hello Kelly,Sounds like your ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ Hello Kelly,<br/><br/>Sounds like your sgent is doing his/her best for you. In a short sale situation the buyer and the buyer's agent are really at the mercy of the listing agent. The poor listing agent is at the mercy of the bank.<br/><br/>The bank holds the power in these sales. Although the seller has the right to list the home and select an offer to submitt to teh bank, the bank <br/>decides the final terms and conditions of the sale.<br/><br/>I hate to hear how much you like this home, but your agent is right to advise you to look at other properties. Why not start by looking at homes that have just about everything this home has, or homes that you can make more like this home (without too much expense).<br/><br/>Short sales are their own beast, and can be very stressful. Follow your agent's advice, and keep the offer on the table, but prepare yourself that you may have to either wait a longer period of time or move on.<br/><br/><br/>Best of luck to you.<br/><br/>Kawain Payne, Reator Sat, 09 Feb 2013 18:42:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2013-02-09T18:42:00Z Short sales take a long process ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ Short sales take a long process before an offer is approved from&nbsp;the bank. I suggest to keep looking at other houses and hopefully you hear responce from the short sale before you get an offer accepted somewhere else. Tue, 08 Nov 2011 22:12:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-11-08T22:12:00Z I think perhaps the only ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ I think perhaps the only right a short sale buyer has is habeas corpus... Tue, 01 Nov 2011 03:25:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-11-01T03:25:00Z Some states will have a short ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ <p>Some states will have a short sale addendum attached to the offer to purchase which allows you, The Buyer, to withdraw your offer at any time.&nbsp; Other than those 'rights', you probably don't have many others in terms of herding the offer through the proper channels.<br/><br/>From the way this sounds, it apepars as if there is no 'professional' with short sale experience driving the boat.&nbsp; Your <a href="http://www.zillow.com/directory/real-estate-agents-sellers-agent/">listing agent</a> gave you a proper response.&nbsp; And it appears that he or she has some experience and knowledge of the necessary diligence required when running a short sale.<br/><br/>However, it also appears that if no one is driving the boat (besides the Sellers themselves), that the liklihood of this offer finanlly consumating is very low.<br/><br/>Leave your offer 'in', continue looking, and if you find another home you prefer, check the language in your contract, as you should be able to unilaterally terminate or withdraw your offer.<br/><br/>Always check with an attorney for more appropriate legal recourse.</p> Tue, 01 Nov 2011 02:12:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-11-01T02:12:00Z You have no rights as a buyer ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ You have no rights as a buyer until your have a live contract signed by the owner and approved by the bank. The <a href="http://www.zillow.com/directory/real-estate-agents-sellers-agent/">listing agent</a> may be incompetent or the bank may just be slow. You have no way to know, but your agent is giving you good advice when they are telling you that it may be time to leave your offer in place and keep looking. <br/><br/>Make sure you understand what provisions in the contract are as far as your deposit and right to cancel goes. I would leave the offer on the stove and keep looking. Mon, 31 Oct 2011 19:27:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-10-31T19:27:00Z You don't really have any ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ You don't really have any rights, as your offer is contingent upon bank approval, and until receiving said approval, isn't a binding contract.<br/><br/>Short sales can be frustrating, your agent sounds like they are doing all they can.<br/><br/>Good luck! Mon, 31 Oct 2011 18:57:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-10-31T18:57:00Z It would be nice if agents ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ It would be nice if agents actually answered the posters question: <strong><em>w</em><em>hat</em></strong> <strong><em>rights do buyers who submit an offer to a seller have in CA</em></strong>? There may be close to none but I am not an agent and do not know the answer. <a href="http://www.zillow.com/directory/real-estate-agents-buyers-agent/">Buyers agent</a> who purport to represent the interests of the buyer should be able to answer this question. Mon, 31 Oct 2011 18:19:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-10-31T18:19:00Z Unfortunately, if you are ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ Unfortunately, if you are going to buy a short sale or REO you have to be willing to put up with a lot of stuff like this. There is a lot involved in getting either of those types of transactions closed. It's very possible that both agents did everything they could but things just didn't come together for some reason. There will be numerous people involved in either of these types of transactions and you must have the ability to understand the process if you want to buy a short sale or REO. As far as this particular property. Ask your agent to try and keep you in a back up position and watch for the property to get foreclosed on and then buy it after the foreclosure. Mon, 31 Oct 2011 17:55:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-10-31T17:55:00Z Becky is right, short sales ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ Becky is right, short sales are tricky and incompetency can run rampant.&nbsp; It may not be incompetency on the part of the listing agent.&nbsp; It may be the bank.&nbsp; Often times, the right hand doesn't know what the left hand is doing.&nbsp; It could be a number of things.&nbsp; As a buyer you have a right to keep the offer in.&nbsp; The purchase contract does specifically state that the sellers have 3 days to approve.&nbsp; If you haven't received a response, you are not obligated to stay.&nbsp; You can get a great deal on purchasing a short sale, but they can be a nightmare to deal with.&nbsp; We are representing sellers on a short sale now.&nbsp; We got confirmation from the bank that they received the submitted offer and 3 weeks later the bank notified the sellers that they are foreclosing on them.&nbsp; A different agency within that bank didn't know we had an approved short sale.&nbsp; Stay strong and eventually you will get that dream home! Mon, 31 Oct 2011 17:48:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-10-31T17:48:00Z Kelly,Unfortunately...this ... http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ Kelly,<br/>Unfortunately...this does happen.&nbsp; Short sales do have some problems and the <a href="http://www.zillow.com/directory/real-estate-agents-sellers-agent/">listing agent</a> can make or break the deal.&nbsp; It may not be either of the agents fault.&nbsp; It depends on the <a href="http://www.zillow.com/directory/lenders/">lender</a> that is involved.&nbsp; The story that you are telling is absolutely something that can happen. You need to decide if you are ready to go the distance with the home that you put an offer in on. If this is a home worth waiting for ask your agent to put the offer in. Then ask the listing agent to give an email confirming receipt of the offer. Have the listing agent give you something that proves your offer has been submitted. They may tell you their is nothing but they should be able to provide something that shows some sort of communication with the bank.<br/><br/>The only rights that you have is to possibly find property with a different listing agent.&nbsp; &nbsp; <br/><br/>Good Luck.&nbsp; Don't give up on short sales, they are not all bad. Mon, 31 Oct 2011 17:29:00 GMT http://www.zillow.com/advice-thread/What-rights-does-a-buyer-have-in-California-when-it-comes-to-submitting-an-offer/421264/ 2011-10-31T17:29:00Z