Monday, August 07, 2006

Rejected Again / Are my offers getting submitted?

Rejected Again

I just logged onto the HUD processor's web site for my area to learn ALL of my offers were beaten out. Here were the details:

Offer #1
List Price: $109,000
My Offer: $101,300 (93% list)
Winning Offer: $100,499 (92% list)

My only guess is that the winning offer was made by an owner-occupant. There was actually another offer for $104k that was also rejected, so mine wasn't the highest offer.

Offer #2
List Price: $106,000
My Offer: $92,300 (87% list)
Winning Offer: $103,972 (98% list)

Offer #3
List Price: $109,000
My Offer: $95,300 (87% list)
Winning Offer: $104,491 (96% list)

Are my offers being submitted?

Okay, this is the second group of offers that I've emailed my agent that haven't showed up on the property's history. IOW, when you submit an offer to HUD, they record the offer as being reviewed - ALL offers. They then stamp a confirmation number to the offer for tracking purposes. When you go to review the history for a specific property, it will show ALL offers submitted and reviewed for the property, whether the offer was rejected or accepted.

When I found out none of my offers were accepted last week, I found out by way of looking at the winning bids vs. my bid. I noticed in the history of each property I submitted an offer on, NONE of my offers were listed. I talked to my agent afterward about something else, and noticed the next day one of my offers showed in the history listing (but not any of the others).

This week was the same thing. NONE of my offers showup in the history for the associated properties. I'm not sure if my agent is just not submitting my offers or what. I guess I'll have to call her and find out what is going on. For now, it doesn't matter a whole lot as none of my offers would have won anyway, but if they would and another offer bypassed me as the winner, I'd be pissed.

1 comment:

Trisha#1 said...

Oh, I hope that's not the case! If your agent dropped the ball that badly, you need to report her to the managing broker in her office for sure! I'd be super-pissed, too!