Los Angeles, CA · Member since 2017 · 10 posts · 0 votes
I'm currently in the middle of attempting to buy a property. The property was priced right and I wanted to lock in the sale so I made a full price , all cash offer with a short response time. No response within time. The selling agent has been delaying and stalling - after four days selling agent requested that I present "Best and Highest Offer" I once again offered full price, all cash offer - still no answer. I know I'm being used to try and get a higher bidder. But these stall tactics seem unethical and maybe worse. I do want the property and someone else will eventually come along and offer more so I don't want to play games like submitting a lower offer than before. Is there anything I can do now? and when this is over should a complaint be filed against this realtor ? and would that complaint be valid?
Hi David.
Do you have an agent representing you? Typically the "selling agent" represents the buyer and the "listing agent" represents the seller. When you say selling agent, I assume you mean the listing agent is stalling and waiting for a better offer. Has your agent given you comps on the property? Have they spoken with the listing agent to ask whats going on? You may need to submit a higher offer to get it accepted. The listing agent and seller do not have to accept your offer or counter it, even if you think it is a really good one. I was in several of these situations with my clients and the sellers asked for highest and best even after we submitted full price. It's frustrating, but it is within their rights.
Best of luck!
@Russell Brazil Thanks for the advice - I'd like to charge her for the stress she's giving me and with her delay games even if it goes through we will now have to rent a month which will also incur extra moving charges so there will be a monetary loss on my end at least 3k for her actions in this matter thus far.
Hi David,
At the end of the day I think it is worth realizing that the listing agent works in the interests of the seller, not you, and they certainly aren't responsible for your living arrangements or that you are experiencing the normal levels of stress that every FTHB faces.
You also do not know what instructions the seller might have given their agent. By default listing agents are supposed to present all written offers in a timely manner, but the seller is allowed to modify that 'default' behavior. For example if the seller says "Hey don't show me ANY offers until you have at least 3 in-hand and it's been 5 days," the listing agent is supposed to honor that request. The seller can also say "hey I want it listed at this price here, but throw away any offer that is not 5% above that" and, again, the listing agent is supposed to do the seller's bidding.
Your agent is the one who is on your team. What you tell your agent to do isn't really the seller's business, and it's not strictly speaking any of your business what instructions the seller gave to their agent.
Remember: do not fall in love with any home until you are on title to it and have the keys in your hands. Until that happens, it's business, not personal.