Realtor Ethics Violation?

Question

My husband and I were looking to purchase a homepath.com Fannie Mae property to live in and Flip and the Listing agent told us they would only accept cash offers. I thought this sounded incorrect. I used to help my Broker with REO's a long time ago and I remembered they would encourage owner occupants with financing to purchase. I called Fannie Mae and they told me that the listing agent gave me incorrect information about Cash only offers on this home. My question is-- should I make a complaint against this agent? Is it worth it? I already sent a complaint to Fannie Mae Homepath.

Russell Brazil · Answer

Its unlikely you spoke the the actual asset manager in charge of that property.

Wayne Brooks · Answer

Simply submit your offer....the asset manager for Fannie will see it.

Account Closed · Answer

@Carol Brindley Did you tell the agent that you checked and they said financing options are available? the agent herself could be misinformed and this will give her the opportunity to check. if she doesnt budge then, then its good that you already submitted a claim. if you want to you can complain but i wouldnt waste my time. its not going to help the house end up as yours anyway and then youll have to deal with the complaint with the state and agent which may just be annoying to you in the end.

Chris Purcell · Answer

Just find a new realtor

Mike Cumbie · Answer

I am in the "find an agent and submit it" camp. If you didnt have a relationship with them and they didnt want to work with you, find one who will.

Lynnette E. · Answer

It may be that they 'can' accept a noncash offer, but they never do and wait for a cash offer in that area.  It may be that the agent knows the property will not qualify for a conventional loan and does not want to waste her time with an offer that will not result in a sale.  BUT the realtor should have told you that information instead of what she told you.

Realtor Ethics Violation?

Most Popular Reply