I!ve been had!

[Account Closed]

A question for you! Does this smell like a fish market? Through my broker agent, I placed a cash bid on a FNMA property. Unknowingly, another investor placed a cash bid on the same day. Neither bid was accepted. My agent called to tell me my bid was not accepted. OK. The following day he called me to tell me the property had just sold that day! He also informed me, they accepted $2500.00 less than my bid! We were both pissed, to say the least. When I questioned FNMA about possible fraud, all I got was beating around the bush. The prop. went to a flipper with a bad rep for shady deals. Do you think I have any recourse? Should I just shut and live with it?

[Mark Holencik]

Originally posted by @Chris Seveney:

I had a similar situation happen where we were high bidder on a property but the agent convinced the seller who was out of town to sell it to a local individual who is well connected in the community

Definitely was very shady but nothing you can do except move on to the next one

 Is there a law saying I have to sell to the highest offer?