Can a listing agent take the house off market after one day listing?

Question

I found a beatiful house on mls at very attarctive price (REO). I immediatly jumped on it right away and asked my agent to follow up and submeded an offer 25% more than asking price. The listing agent accepted our offer and said we have a very strong chance of getting the house. Onece the offer was submitted the listing agent never reply back to my agent about recieving the offer. The next day the house was off market and the listing agent did not return any calls. Can they do that or this is some kind of scam?

Answer 1

i don't clearly understand ur question, but about the house being off the market the next day that they can do. anyone can remove the house of the market at any time, sellers can do anything like this with their properties and an agent could have a disagreement with their client, the seller, and decide to remove the house from the market and end their listing contract. i hope this helps if not just ask, i'm a licensed real estate agent, just bought my 1st home 2 yrs ago and know how people r. some just get too greedy. some advice once they tell u ur offer is accepted make sure it's signed by the sellers so u can make sure it'll go through. ur agents job is too make sure ur informed at all times so she should try harder as to learn what happened w ur offer.  

Answer 2

.    We had this happen.  THe bank was notified that their foreclosure had not been done properly.  That bank had to show proof that it owned 100% of the previous loan.  Well, they didn't.  So they had to contact the other banks that owned portions of the loan (the loan had been split into 10 parts) and reassemble the loan.  That took a month.  The house went back up for sale with a new bank as the seller.  Your old offer was made with the "old" bank as the seller.  All offers had to be rewritten and submitted to the "new" bank.

Answer 3

It sure sounds like something weird is going on. Maybe, you are better off without that house if they are already playing games. or maybe the people decided to not sell yet. but your agent should be able to help you. and i would never offer more than the asking price first time around anyway

Answer 4

Ok, you contradicted yourself in your own post.

First you say that the "listing agent accepted your offer" and THEN you say, "since the offer was submitted the listing agent never replied back".

So which is it?

First of all, a listing agent CANNOT legally accept an offer on the behalf of a seller...that is out of our scope of practice.

There is also no law that states she has to respond to the offer at all.  

Don't move on yet until you have sent over a retraction of your original offer, and next time don't be so quick to offer 25% more..b/c most likely, unless you are paying cash, no bank is going to approve that.

Nobody in this market is paying above asking price...and it sounds like your Realtor didn't even do a single ounce of work to see if it was even worth it to start with.

Answer 5

Maybe someone made an offer 30% above listing and they took the offer.  You can rescind your offer in writing if you didn't put an expiration date in it.

doesn't sound like a scam, it's just business.  

Answer 6

I suggest your agent contact the broker for the listing agent. Sound fishy to me.