Is it possible that seller's agent is lying about receiving multiple offers??

Question

New investor here.

I made an offer on a duplex, it's been on market for about 10 days. The price is low, about $160K. I offered $140K, and now i'm being told that there's multiple offers on the property.

My gut is telling me that the seller's agent is lying, about whether there are actually multiple offers. Is it possible for seller agents to lie about receiving multiple offers?

Russell Brazil · Answer

Possible? Absolutely

Likely? Probably not.

There's very little economic incentive for them to lie. At this price point the agent might pocket $200 more after split and taxes to get the price increased $20k. So would they risk committing a crime over $200? Sure its possible, just not likely.

Additionally, just because they have other offers, doesnt mean those offers are actually good offers.

Lynn McGeein · Answer

@Marc Shin it doesn’t make much sense to lie about it. If property is priced right in a desirable location, there’s likely competition. If you think they are lying, maybe have your agent add an escalation clause.

Is it possible that seller's agent is lying about receiving multiple offers??

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