Ethics on an offer I made & got rejected - Posted by able learner

Posted by Randy (SD) on February 09, 2004 at 11:01:18:

Since your offer was rejected I doubt you have anything to offer, a better position for you to be in is to have an accepted offer. What will the sellers except? Are there willing to sell on a L/O? Are there willing to put down $1000? You could make a nonexclusive offer “subject to finding a suitable buyer” and tie up the property for 30 days. Now you have something to market.

Ethics on an offer I made & got rejected - Posted by able learner

Posted by able learner on February 09, 2004 at 10:41:48:

Is it ethical to birddog a property I made an offer on but was rejected? Any hitches

I just made an offer on a Sub2 and reqwuired the owners to put down $3000. They had put a lot of money into the house and don’t really know how difficult their own circumstances right now, despite my warnings about listing, self selling, or becoming a landlord themselves. Someonw may be willing to take more risk on the property.

Do I have to check with owners before sharing the info I have?

Re: Got some good dirt? - Posted by Ed Copp (OH)

Posted by Ed Copp (OH) on February 09, 2004 at 17:29:07:

Sounds to me like you have no contract at all at this time. So if I understand correctly you want to know what information you may share with others, about the seller.

Public record is O.K., as is common knowledge and that is about it.

I just ask myself some questions about situations like this. If it’s information about the loan or the payments what would the lender tell me if I just called them up? Whatever I could get from the lender without permission is what I can tell others.

Same goes for employment, or lack of it and most all other financial information. As for credit information, how much info can I get from the credit bureau without permission? That’s the limit on what I can tell others.

Now if the seller is having an affair with the neighbor, or better yet two neighbors … well didn’t everybody already know all about that? I would avoid that issue too.

The obvious answer to the question is they are entitled to privacy. The solution is to get control of the property yourself, so that you become the seller and the previous owner is not involved any more.

Re: Ethics on an offer I made & got rejected - Posted by rebeccax

Posted by rebeccax on February 09, 2004 at 12:40:58:

From an ethics standpoint, you may know information (having had an offer rejected) that the owner wishes to remain secret at least in the beginning of new negotiations. I guess you could say that that is his problem. Put yourself in the sellers shoes and see where this takes you. If you would not want someone disclosing particular information about a deal, etc., then he/she won’t either.

I think being honest in your dealings is a core competency. This is a people business, not the purchase and sale of buildings.