ok i have bid on house for over a month my RA call the bank and bank said offer was fine and no other bid. the bank wil get back to their RA in two days.the day comes and the my RA say their are two other offers. need to put in highest and best offer.ok so we did. the next day a friend call the bank spoke to head person ask a few questions ask how many bids are in they say it was only one in right now and it was mines. then we get a letter saying we have a strong bid? i am like what that means now i don't know who lieing to me now.i was thinking on calling the bank myself to really find out what going on. because i waited almost one month and 2 weeks just for answer.

The fast answer is to fire your RA and get another one!
But as this is easier said than done, call the bank yourself. No reason why you shouldn't, especially when they were willing to give information out to your friend. Your RA is obviously not looking after you the way he/she should be doing.

Duncan

I don't see your problem here. You bid on a house and you won. This is the house you want, isn't it?

Your RA did nothing wrong. They just relayed the messages from the bank's agent to you about there being multiple offers. This is very common with bank owned properties. If you did not want to pay a higher price you should have just walked away.

When dealing with a bank about anything you should always expect things to get weird.

Your agent did not do anything wrong and they stuck by you for 6 weeks waiting to get an answer.

ok you say i won the house. i do want the house but how long should i wait. should i call the bank? because all my RA saying just wait and been saying it from the start.

The bank may say there is only one offer because they told their listing agent to only submit the highest and best offer. And honestly most banks are not going to talk to you. All communication from the bank is thru their asset manager, who then talks to the listing agent.

Nothing banks do regarding bank owned property makes sense 99% of the time. But you got it so what is the problem?

the only problem is that i am on a time frame their grants involve and need to be use asap or will lose grants.
what you think is a good time limit the banks will answer back after what was said on the strong offer. it was on tues when it was said.so how long should i wait? or just look for another home.

Is the listing broker and the bank (seller) aware that there are grants and timelines involved??

If the listing broker knows they won't get it closed by your grant timeline it could save everyone some time. If you didn't disclose you were using grants in the contract they might be taking their normal time.

Open communication with the right parties could save alot of time.

No legal advice.

ok this what I found out that it is the asset company I’m talking to not bank. but there is a real problem that the seller agent is taking their time on sending in the bid. and there was no other two offers made a new bid when they said highest and best offer but seller agent hasn't even send in the bid to the asset company. aren't you suppose to send in bid the same day?

Not necessarily. Sometimes the bank/asset company will require the listing agent to wait a certain number of days before they submit any offers. The reason is to make sure the property has time to be seen by all interested parties.

It all depends on the relationship the listing agent has with the asset manager as well as the policy of that particular bank.
For example. I have had many situations where I have several offers and my AM just said to me to hold everything and counter everyone with highest and best and only submit once I have all that.

Also I find it very unusal that the bank will tell anyone how many offers are on the table. As well as a lot of the times only the AM assigned to that property would know.

Also as to presenting offers. I can tell you many reo sellers like Wells Fargo will not even allow me to present offers till the property has been on market for 5 business (not calendar) days.