REO Sale Questions and Possible Shady Listing Agent

[Debra C.]

Am looking at an REO property. Listing Agent stated he owned it with a partner. Have a 7 day option on it now, in checking the local appraisal district information turns out it's owned by the bank and the bank has it on their REO website for 24k less than the listing agent has it on MLS. The option contract lists the listing agent and his partner as sellers. Is this guy trying to assign the contract and do a double closing hoping no one catches on or do the banks let the local listing agents make up their own prices in hopes of getting more money? Why isn't the banks name on the option contract? No one answers the phone at the main website for the banks agents in Utah. I want the property but would like it at the price the bank has it listed for rather than the local agents price.

[Jay Hinrichs]

@Debra C.  YUP exactly  agent tied it up and is trying to double escrow it.

If this guy who is trying to sell it to you is the listing agent I could see a total breach of fiducerey unless he has made a full disclosure to the bank.

lots of flipping MLS stuff going on in TX these days.. Me personally I don't buy or fund any deal that is set up this way I don't care how much is in it... I won't do it on principal.