Transparency has been hazy for a long time now in the area of the bidding process
the professionals deal with this in a straight up manner while the others in the
business of real estate seem to leverage it to their short-sighted advantage.
In the long-term hurting everyone in the process by creating mistrust among all the
participants in real estate; realtors ,sellers and buyers.
If the appraisal can’t support the value the bank will not be lending the required funds to close
and complete the transaction, it is that basic.
It doesn’t matter what the agreement of purchase and sale may say the Price it was bought at
and or what the client thinks or may think it is worth or what you think it is worth.
However to artificially create or out right lie about there being other offers for the property
simply to create an emotionally charged response by a potential buyer for your listed property
should be deemed fraud, it is unethical – charges should be laid.
But how do you fix this broken system ?
One idea I put forward many years ago now – was to issue a reference number for each registered offer
and it should be on the system for all to see with corresponding real estate brokerage company name on the
mls system accessible by realtors.
Any thoughts on this, leave your comment below or talk to your local board.
We can do better and a better system works for all.
Twitter : EnvoyCapRealty
Blog : www.capitalmoves.blogspot.com
Yeretsianonrealestateinvesting's Blog 