Placed a bid on Monday. It would be accepted if we showed letter of financing and given to agents Wednesday. On Friday, our agent says we need to bid the asking price. Why has it changed. I was told by our agent they recieved 4 other bids ( this was after we were told our bid would be accepted after the letter of financing ) I asked for the asking of the other bids and I was told it was against the law to know the other bids. My question is can we asked about the other bids or do we have to bid the asking price? If we bid the asking price it is a done deal.
Please help with advise!!

In multiple offer situations as a buyers agent I tell my clients that the bid should be there Best offer which can be full price or over full price it comes down to how much the buyer wants that house.

You made an offer on Monday. When did your agent present it to the sellers? Was it the sellers who said it would be accepted when your approval letter was given to them? Seems a little long for an offer on Monday and not getting word till Friday that there are multiple offers. Is anything missing from your original post?




------------------
Paul Oaks
Broker\REALTOR
Coldwell Banker