“I wrote an offer on a short sale and it was not presented to the bank. Is that legal?”
Answer:
While an agent owes the seller a duty to present all offers to them, they do not owe that duty to the bank on a short sale. The bank is not their client.
The seller and agent decide which offer or offers are in the seller’s best interest to present to a bank. It’s typically a judgment call based on net dollars, offer strength, and where they are in the short sale process.
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