Can someone please explain this to me? As a listing agent, I have received cash offers. They are usually way below list because some buyers want you to be so impressed with the fact that they are offering cash. While a cash offer will do away with the pesky appraisal issues that may come, if that's not a concern, I've never met a seller that wouldn't mind waiting and extra 30 days for over $10,000!
My question to the buyer's agent in a recent transaction is, "If you're making a cash offer, why are you sending me a lender's letter?" HELLO, Jane?? Because they don't have the cash! The agent maintains that they do have the cash -- he simply can't get the statements together, the money is coming, the sun's in his eyes, his dog ate his homework.....As I'm reading the lender's letter, I notice that the borrower's name IS NOT A PARTY TO THE CONTRACT.
Is this an ethics violation under, "misrepresenting offers to clients and brokers" or is he just a total knucklehead?
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