Foreclosures: Multiple Offers- Deceipt & Subterfuge

By
Real Estate Broker/Owner with Rulnick Realty, Inc.

Yesterday I was in the midst of a multiple offer situation.  The property was a Destin foreclosure, a condo near the Gulf of Mexico. There were two offers, and the seller, a bank, asked for "highest and best offer" from each party, a standard practice in the foreclosure industry.  While driving back to my office from an appointment, I received a call about the condo on my cell phone. Here is the conversation, I have changed names for the sake of confidentiality.

Buyer: "My name is Joe Garbled and I am calling about your Piper condo! What can you tell me about it?"

Wendy: "Are you an agent?"

Buyer: "No, l am a buyer".

Wendy: "Sir, there are two offers on the property. It may be sold by tomorrow..."

Buyer: "Is the offer cash? Is it under 180,000?"

Wendy: "Sir, I cannot say. Do you want to make an offer on the property?"

Buyer: "Yes, but is the offer cash? Is it under 180,000?"

Wendy: "Sir, I am driving now, cash doesn't matter to this bank, they want the best net offer."

Buyer: "Call me when you know something!!"

I thought the call was quite strange, and it put me into a delicate situation regarding disclosure.   The seller had not instructed me to divulge price and terms of either offer.  Anyway, I proceeded to follow up with each of the buyers' agents to make sure they had received the multiple offer paperwork from the foreclosure bank.  Agent #2 said yes, but his buyer wanted to call me directly to ask me some questions, and he told him not to.  I asked, "Is his name Joe?" "Yes".

It's Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

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 Copyright © 2008 By Wendy Rulnick. All Rights Reserved. *Foreclosures: Multiple Offers- Deceipt & Subterfuge* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity.

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"It's Wendy... It's Sold!"

Wendy Rulnick, Broker/Owner Rulnick Realty, Inc.

Call Wendy Rulnick 1-850-650-7883 ext 204

email itswendy@rulnickrealty.com

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Wendy Rulnick is the marketing choice for sellers on the Emerald Coast who want to list and get their homes and condos sold in Destin, Sandestin, Bluewater Bay, Santa Rosa Beach, 30-A, Watercolor, Seaside, Rosemary Beach, Seacrest Beach, Kelly Plantation, Regatta Bay, Destiny and more.

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Show All Comments
Rainmaker
222,724
Karen Ann Martin
Safe Harbor Realty - Westport, MA
Realtor Fall River Westport MA Real Estate Agent

They sure do get crazy don't they.

Aug 06, 2008 11:55 AM #1
Rainmaker
496,970
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Karen- First time anyone's tried to pull that one on me!

Aug 06, 2008 11:58 AM #2
Rainmaker
594,564
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

Sometimes you just have to shake your head...why do some clients think that we make up stories or withhold information.  Yep, just got to shake your head!

Aug 08, 2008 02:53 AM #3
Rainmaker
496,970
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Laura-  l am still shaking my head!  Deceipt, subterfuge and bold-faced lies!  Maybe I'll rename my blog!

Aug 08, 2008 03:06 AM #4
Rainer
33,648
David Petrovich
S.P.O.C.H. a 501c3 Charitable NP - Oakhurst, NJ

I read over the web page linked to this Blog.  Having been involved in this end of the business for more than 20 years, I usually get a chuckle when reading "we do shortsale" websites and can pick out glaring innacuracies...

Based upon what I read on your website, I would not hesitate to recommend your services to folks who need to sell via preforeclosure short sale.  Congrats.

Aug 13, 2008 11:02 AM #5
Rainmaker
496,970
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

David - I am honored - thank you.

Aug 13, 2008 11:43 AM #6
Rainer
149,814
Freddy A. Saavedra
Essential Properties - Goodyear, AZ

Some people are predisposed to not believe anything you say and to try to "catch" something. Hope everything goes well.

Aug 30, 2008 06:16 AM #7
Rainmaker
496,970
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Freddy- Thanks- in the end- I am sure it will.

Aug 30, 2008 06:40 AM #8
Rainer
156,923
Laurie Logan
Keller Williams Realty, Inc., Broker Associate - Madison, WI
South Central WI Real Estate

HI Wendy!

I sell foreclosures also.  It amazes me how some folks are always trying to get around the system.  Then, they are the first ones to accuse everyone of doing 'something sneaky.'

Sep 15, 2008 01:31 PM #9
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Rainmaker
496,970

Wendy Rulnick

"It's Wendy... It's Sold!"
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