Dealing with Uncooperative RE Agent with REO deal - Posted by Peter
Posted by Peter on April 27, 2006 at 13:35:51:
I have a quick question. I know that lots of people have already come across this and I hope someone will be able to help me. Before I pose this questions, I just want to point out that I have nothing against RE Agents. Here’s the situtation. I found this REO in my particular area. I went over to inspect it, met with the representing RE Agent, found out that its been sitting on the market for a while without any bids, and it looks like most of the repairs are cosmetic.
Here’s the problem. When I told him that I wanted to put an offer on the house, all of a sudden there are 5 other offers and they are all above my offer. Few of them have been rejected so he doesn’t think that I should submit my bid because its a waste of time. (I think he’s lying because my offer is low and he thinks he can get more for it if he waits longer) I did research and I found out the house is owned by Fannie Mae.
Is there a way to make an offer without this particular agent’s involvement? Can I call up Fannie Mae and deal with them? How can I submit my offer? Also, if I have to submit my offer through this agent, (I would just send the offer to him and tell him to submit it) how do I know that he actually submits it? Thank you for all your help.