Short Sale Agent Obligation

[Ravi P.]

Would anyone be able to provide some insight in regards to a Short Sale Seller Agent obligation to the bank/investor of the loan.

I attempted to place an offer that would be above list price for a SFR. Not much more, but it's still above the asking price. The seller refused to even consider an offer since they seller agreed to another offer the day before. The accepted offer was below the asking price.

Based on a conversation with an individual that works in the loss mitigation department of another mortgage lender. She stated the Listing Agent should present all offers and does have an obligation to the investor (fannie mae). She said if it was a property for her bank, she would want to know and possibly black list the agent.

My question is does the agent have to present all offers, even if it complicates the deal?

[Maryann L.]

The seller's listing agent has an obligation to present ALL offers to the seller.  It's up to the seller to decide which offer they want to execute.  I personally will have an honest conversation about the pros and cons of every offer with a homeowenr.  Just because it's higher, doesn't mean it's better.  I've seen sellers take lower offers because they were cash and there was an auction etc.  Who knows what was in the offer that the seller accepted on yours...