Can Potential Buyer Ask for Proof of Other Offers?

[Anonymous]

LOL. I'm thinking OP is just a whiny brat. I don't wanna submit an offer if there's another offer and the agent is lying and you guys are being mean to me now and calling me names!

Put on your big girl/boy pants OP.

[Anonymous]

Beginning to see why so many think real estate agents are a waste of time.

[Anonymous]

Anonymous wrote:Beginning to see why so many think real estate agents are a waste of time.

Go sell your house yourself then. Or with Redfin. BTW, Redfin (THE WHOLE COMPANY) currently has FOUR active listings in NW DC ranging in price from $339,000-$875,000.

Beginning to see why clients like you would be a waste of time and energy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Beginning to see why so many think real estate agents are a waste of time.

Go sell your house yourself then. Or with Redfin. BTW, Redfin (THE WHOLE COMPANY) currently has FOUR active listings in NW DC ranging in price from $339,000-$875,000.

Beginning to see why clients like you would be a waste of time and energy.

I'm not looking in NW DC. Given the lack of professionalism shown by at least one agent on this board, I'm beginning to think that's not a bad idea.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Agent here.

Good lord OP put in an offer for your price with a 1 hour time limit and beat the agent and seller at their own stupid game.

For the others asking about how you know if you escalated against a real person, the listing agent is supposed to give you the front page of the other contract and the buyer's agent's name so your agent can confirm.

I'm sorry for being snarky but for all this talk on here about how people can buy and sell houses themselves, it's obvious a lot can't. You just have to think about how to beat people at their own game.

AMEN!!! THANK YOU! Obviously I am another agent. It really is quite something to read all of these posts from so many highly educated people who do, indeed, think they can buy and sell themselves or use a discount broker! (Sorry PP, if you work for Redfin, but I have a personal distaste for all of the Redfin love on this site).

The escalation clause, in effect, is an invitation to engage in a counter offer. If you are involved in a multiple offer situation (and if I were representing you as your as a buyer's agent and you WON) I would ask the listing agent to see any part of the contract that could have influenced the seller choosing your offer over another. Money isn't always the only thing that wins a deal believe it or not - could be terms (free rent back, seller credit, etc.).

Do you REALLY think we are in the business of producing "FAKE" offers to screw you?!?! MY GOD. I hope to never cross your path and I feel sorry for your agent.

Hi, I was the poster originally asking about escalation clauses. I wasn't implying that the selling agent would generate a fake offer, but rather that the seller would have their uncle/friend/whatever put in an actual offer that was just below the top of the range of the escalation clause. In that case, there would be an actual contract for you to review but you'd never know it was from a relative or a non-serious buyer right? Sure it's unethical but I could absolutely see someone doing this to make a few extra thousand dollars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Beginning to see why so many think real estate agents are a waste of time.

Go sell your house yourself then. Or with Redfin. BTW, Redfin (THE WHOLE COMPANY) currently has FOUR active listings in NW DC ranging in price from $339,000-$875,000.

Beginning to see why clients like you would be a waste of time and energy.

You know, the agents on this board are telling it like it is. It sounds like there's not enough hand-holding in the advice for you. It's not a question of being a waste of time, rather, a question of having buyers who are realistic, serious (put offers in writing instead of constantly emailing the listing agent asking if there are other offers) and not wasting everyone else's time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Beginning to see why so many think real estate agents are a waste of time.

Go sell your house yourself then. Or with Redfin. BTW, Redfin (THE WHOLE COMPANY) currently has FOUR active listings in NW DC ranging in price from $339,000-$875,000.

Beginning to see why clients like you would be a waste of time and energy.

You know, the agents on this board are telling it like it is. It sounds like there's not enough hand-holding in the advice for you. It's not a question of being a waste of time, rather, a question of having buyers who are realistic, serious (put offers in writing instead of constantly emailing the listing agent asking if there are other offers) and not wasting everyone else's time.

Really, what does any of this have to do with the original question? Guess the agents here are unwilling to acknowledge that there are some who play games to pressure buyers, drive up the price. Thanks to those who gave serious responses. Really not sure why others got on the tangent of "wasting time" or "hand holding," has nothing to do with the question, but clearly makes you feel better to be insulting and condescending. Doesn't really seem like those traits would be attributes in your line of work, maybe that's why you are so nasty here.

[Anonymous]

Anonymous wrote:Beginning to see why so many think real estate agents are a waste of time.

They are door openers. That's it. Even the listings are all just sent to you through auto-email.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Beginning to see why so many think real estate agents are a waste of time.

They are door openers. That's it. Even the listings are all just sent to you through auto-email.

I believe I have instructed you to cease your tiresome and puerile tirade against agents. We get it, you don't like them. Now, shut up.

[Anonymous]

OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Agent here.

Good lord OP put in an offer for your price with a 1 hour time limit and beat the agent and seller at their own stupid game.

For the others asking about how you know if you escalated against a real person, the listing agent is supposed to give you the front page of the other contract and the buyer's agent's name so your agent can confirm.

I'm sorry for being snarky but for all this talk on here about how people can buy and sell houses themselves, it's obvious a lot can't. You just have to think about how to beat people at their own game.

AMEN!!! THANK YOU! Obviously I am another agent. It really is quite something to read all of these posts from so many highly educated people who do, indeed, think they can buy and sell themselves or use a discount broker! (Sorry PP, if you work for Redfin, but I have a personal distaste for all of the Redfin love on this site).

The escalation clause, in effect, is an invitation to engage in a counter offer. If you are involved in a multiple offer situation (and if I were representing you as your as a buyer's agent and you WON) I would ask the listing agent to see any part of the contract that could have influenced the seller choosing your offer over another. Money isn't always the only thing that wins a deal believe it or not - could be terms (free rent back, seller credit, etc.).

Do you REALLY think we are in the business of producing "FAKE" offers to screw you?!?! MY GOD. I hope to never cross your path and I feel sorry for your agent.

If you ever run across this ding bat make sure to stay far away. The minute a realtor acts like he or she "have a personal distaste for all of the Redfin love" and bad mouths them you should move along.

These type of people will do the least amount of work and want to scare people into using them instead of providing their skills and abilities.

[Anonymous]

If i received an offer with a 1 hr time limit, I would just counter back changing the time limit to whatever I wanted.

[Anonymous]

Anonymous wrote:OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

Not the OP but any thoughts on my follow up question at 09:34? (Sorry to hijack the thread!)

[Anonymous]

Anonymous wrote:OP, your question was ridiculous. You are asking if a "potential" buyer can ask for proof of other offers. The answer is no. Not until you have put your offer in writing, you have absolutely no authority at all to see anyone's offer - especially not an offer in email from another alleged buyer that is not in contract form. I advised you to stop putzing around and put your offer in writing with a 1 hour expiration. This is the best advice you have gotten in 4 pages of responses, because it would get you the house and beat the other agent at their own game.

You think the agents are playing games but you are as well - a serious buyer puts an offer in writing in a contract. Right now you're not coming across as serious to the seller or his agent. Put something competitive in writing and watch how this situation changes. Until then, you have no horse in this race.

The question was whether a buyer ever has a right to ask for proof of another offer. Several people answered that question seriously--only when an escalation clause is triggered. Please stop with your heavy handed advice, you're off on a tangent making more false assumptions that I can count. I didn't ask for, nor am I interested in, your negotiation advice.

[Anonymous]

OP I don't think your question was ridiculous. I truly thing this is a game agents pay.

I also advise against escalation clauses. If you're offering me 80k for my house, but you have an escalation clause up to 100k, why the hell would I want to accept your 80k offer?!?! I used to think that sellers couldn't see escalation clauses, but now I know better.