Unethical realtor or just plain fraud?

Question

Hey everyone, I'm new at real estate, but I've been reading as much as possible. I made an offer on an REO as an owner occupant a little over a week ago and the realtor said that the bank went with a higher offer. The property hasn't gone pending, and my realtor said that he can't get any information out of the listing agent so my wife called to inquire about the property two days ago. The listing agent said that the accepted offer had until the next day(yesterday) to submit earnest money or the property would be re-listed. Today the realtor told my wife that the offer that was accepted got caught in Hurricane Florence and couldn't get a check for the earnest money, so everything is still on hold. We know she's lying, but what options do we have other than reporting her to the real estate comission?

Any help would be appreciated, thanks.

Any help would be appreciated,  thanks.

Russell Brazil · Answer

Banks, or for that matter any sellers can do whatever they want to.

Id be careful about trying to report someone to a real estate commission frivolously. They might just turn around and sue you for abuse of process.

Wayne Brooks · Answer

Yeah, you’re somewhere between making wild assumptions and just making stuff up. Just keep in contact.

Phil G. · Answer

Lied about what??

Andy Mirza · Answer

@Lane Crownover From what you've said, I wouldn't assume that the agent is lying. Miscommunication is very common when you're dealing with this many people and things change up all the time. The listing agent is not the ultimate decision maker, their client, the bank, is.

Dan Bryskin · Answer

@Lane Crownover If you suspect agent is lying - walk away. This may be a bad transaction, you may end up wasting a lot of time & money. My philosophy - don't report anybody or pick fights up unless absolutely forced too. You are interested in real estate to get some place in your life, not spend it dealing with dishonest idiots. They will not make you any money.

Good luck.

Lane Crownover · Answer

Oh, no, I'm no where near reporting anyone. I was looking for input on if this was just par for the course. The only way I would report anyone is if I had clear evidence of wrongdoing. Right now, all I've got is what she's said. Which, from the feedback I've gotten here, leads me to believe that she may be just as in the dark as me.

Lane Crownover · Answer

Yea, I guess I'm jumping the gun on assuming she is lying, but her story changed and the buyers deadline has changed so much now, that I guess it was just aggravating. Also I didn't realize banks would keep pushing back deadlines like that.

Unethical realtor or just plain fraud?

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