Specific to California.......I have been approached by buyers as well as several colleagues of mine about writing multiple offers at once on various properties and see which ones win.........

In California, if a buyer writes up a mulitple offers and those offers are accepted by the various sellers that buyer is technically responsible for all of those accepted offers.

One colleague was even approached recently and refused, by a client, who insisted that she write up multiple offers and in the the course of conversation found out these "buyers" had every intention of lying on the purchase contract of being owner occupants and was going to approach tenants to allow their mail to be sent there so they could get lower interest rate......Simply that is Fraud........mortgage fraud........

Frankly, those agents who purport to clients to write up multiple offers most likely are cutting corners on their clients protection.

Will they get caught ? perhaps not? But as a listing agent I can tell you this........we do communicate among each other and if we know of an agent who has a questionable reputation and a history of doing such we will make sure our sellers are fully aware of that background.

I have nothing against getting a good deal.  I do have issues with agents who skirt the lines of ethics and good faith.

Many listing agents that I have come into contact with recently are really frustrated with all of the time and effort they have put into these offers , especially on short sales, to have the buyers walk. One of the reason the bank owned properties has made it difficult to bid on their properties is to weed out the yo yo's and to deal with those buyers and agents who truly intend to follow thru with their commitment.

I also realize some agents cave in to buyers demands as they want the commission. My experience has been when you cut loose that buyer which is unrealistic, asking you to compromise your ethics and possible legal standing, another buyer will come forth to which you can hold your head high and move forward.

Part of our obligation and Professionalism is to act  and perform in good faith.

 

 

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Terry Osburn, Broker Associate

Walnut Creek, CA

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Alain Pinel Realtors

Office Phone: (925) 627-3006

Cell Phone: (925) 381-9944

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Short sales in contra costa county. Various topics surrounding short sales.


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