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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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NJ Real Estate
We are trying (desperately) to sell our condo in NJ. We have two outstanding offers. The one that just came in is lower than the one outstanding. I asked why they would even bother, knowing that the outstanding offer is higher and my realtor told me that it is illegal for him to disclose other offers. Does anyone know about this? I know that this is not the case in NY.... Please help!
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Posted 6/21/06 3:21 PM  |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: NJ Real Estate
Posted by lululu
We are trying (desperately) to sell our condo in NJ. We have two outstanding offers. The one that just came in is lower than the one outstanding. I asked why they would even bother, knowing that the outstanding offer is higher and my realtor told me that it is illegal for him to disclose other offers. Does anyone know about this? I know that this is not the case in NY.... Please help!
I believe it is the case in NY also. The realtor cannot tell the buyers what the amount of the other offers are, just that there is another outstanding offer.
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| Posted 6/21/06 4:23 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: NJ Real Estate
Oh really? I thought that in NY you could actually request a copy of any other offers...... this whole thing is starting to confuse me. The realtors should explain these rules up front.
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| Posted 6/21/06 4:36 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: NJ Real Estate
Posted by lululu
Oh really? I thought that in NY you could actually request a copy of any other offers...... this whole thing is starting to confuse me. The realtors should explain these rules up front.
Hmmm...now I'm confused  Sorry, I'm no help.
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| Posted 6/21/06 4:41 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: NJ Real Estate
Posted by lululu
We are trying (desperately) to sell our condo in NJ. We have two outstanding offers. The one that just came in is lower than the one outstanding. I asked why they would even bother, knowing that the outstanding offer is higher and my realtor told me that it is illegal for him to disclose other offers. Does anyone know about this? I know that this is not the case in NY.... Please help!
In NY, the realtor cannot disclose the amount of any offers that come in.
the only thing the realtor is supposed to say is that there are other offers on the table, and that everyone interesting in bidding, needs to present their best and highest offer possible.
hth
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| Posted 6/21/06 4:51 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: NJ Real Estate
Posted by MrsERod
Posted by lululu
We are trying (desperately) to sell our condo in NJ. We have two outstanding offers. The one that just came in is lower than the one outstanding. I asked why they would even bother, knowing that the outstanding offer is higher and my realtor told me that it is illegal for him to disclose other offers. Does anyone know about this? I know that this is not the case in NY.... Please help!
In NY, the realtor cannot disclose the amount of any offers that come in.
the only thing the realtor is supposed to say is that there are other offers on the table, and that everyone interesting in bidding, needs to present their best and highest offer possible.
hth
Thank you so much! that makes it a lot clearer. I bet NJ is the same as NY.
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| Posted 6/21/06 5:06 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: NJ Real Estate
Posted by lululu
Thank you so much! that makes it a lot clearer. I bet NJ is the same as NY.
you're welcome 
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| Posted 6/21/06 5:15 PM |
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maryg
LIF Infant
Member since 5/06 196 total posts
Name:
Mary
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Re: NJ Real Estate
okay, maybe all this is true...
but my realtor that i recently worked whom i don't know personally or anything told me exactly what the other offers are. (long island)
also, i have also worked with other realtors in Queens and they have also told me ballpark what the offers are. for example, they'll say, you need to be about $450,000....
so if this is truly a code of ethics or something, i haven't met any realtors not willing to tell me.
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| Posted 6/21/06 10:05 PM |
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MrsA
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Member since 1/06 2012 total posts
Name:
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Re: NJ Real Estate
Posted by maryg
okay, maybe all this is true...
but my realtor that i recently worked whom i don't know personally or anything told me exactly what the other offers are. (long island)
also, i have also worked with other realtors in Queens and they have also told me ballpark what the offers are. for example, they'll say, you need to be about $450,000....
so if this is truly a code of ethics or something, i haven't met any realtors not willing to tell me.
I dont think all realtors follow all the code of ethics..the realtor who sold us our house actually showed us the written offers to prove to us we had to go above asking price. He was like "Im not supposed to do this but.."
I mean it helped us out to see where we stood but DH and I thought to ourselves we wouldn't consider using him if we were selling our house in the future.
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| Posted 6/22/06 10:03 AM |
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maryg
LIF Infant
Member since 5/06 196 total posts
Name:
Mary
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Re: NJ Real Estate
"I mean it helped us out to see where we stood but DH and I thought to ourselves we wouldn't consider using him if we were selling our house in the future."
 I thought the same thing about my realtor! I thought she was unprofessional and blah blah. But great for me as a buyer. If I was the seller, she will definitely not be my agent.
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| Posted 6/22/06 11:04 AM |
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