Lawyer for Bank refuse to submit offer - Posted by Shawn J Dostie

Real Estate Investing Real Estate Law
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Posted by Shawn J Dostie on March 05, 2007 at 14:11:56:

Thanks John, I’ll have to do a search at the courthouse for the sale and the old mortgage.

Shawn(OH)

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Lawyer for Bank refuse to submit offer - Posted by Shawn J Dostie

Posted by Shawn J Dostie on March 02, 2007 at 15:46:57:

I have my eye on a rental property. In my town, there are houses all over and no buyers so it is very much a buyers market. The house is listed for 30,500.00 I placed an offer, all cash, no contingency with a 5k deposit, and was told that they would not submit the offer to the bank but could get 29,800 handled. I then offered a real offer of $27,500.00 to try to get their attention. They came back with conflicting terms of " We will not submit that offer and then countered with $29,750.00

My question is what is the law regarding submission of an offer, the right of a prospective purchaser to be present when an offer is submitted in the state of Ohio? Where can I find the applicable code?

I don’t know whether I wish to purchase the property or if I am just trying to get my way or if I wish to communicate with the bank, that in a small town like this, the Law firm that they have representing them is not putting their best foot forward in the community and should be replaced, or maybe I am just getting a little big for my britches.

Thanks in advance,

Shawn Dostie(Ohio)

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Lawyer’s duty is to his client - Posted by John Merchant

Posted by John Merchant on March 04, 2007 at 11:14:28:

The bank’s lawyer owes you no duty of any kind.

So long as he represents the bank, he can do whatever he’s been instructed by that client.

But nothing keeps you from attempting direct contact with that bank so go to it.