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I have not had that happen, however, we are typically more concerned with where the buyers' buyers are in the process - what contingencies have been removed and what contingencies remain.
Candice A. Donofrio
Fort Mohave, AZ
Highlands Ranch, CO
of course.... I would want to see the entire chain....all agreements.... all pre approvals and commitment letters...EVERYTHING.... and that type of a contingency would only be CONSIDERED if the property had been on the market for a long time because of location, as an example.... there's a butt for every toilet and a "busy raceway" to one is a country lane to another!!!! if we find that "other" then we would do what we could to keep him/her....
Lisa Von Domek
When I am the listing agent - Yes.
When I am the selling agent, I would expect this request and let my buyers know to expect it if that was a part of the transaction.
Contingent offers of this type are not that common in a Sellers market or when a property is newly listed.
I'm not sure what BFI stands for, but I had a contingent offer placed on one of my listings recently. We would have requested in the counter offer to have that information provided and access to their escrow agent, but we ended up selecting a stronger offer.
I have...if a buyer is presenting an offer, all of the information is needed for the seller to make their decision - so a contingency offer would need to provide the details of their transaction that it is tied to.
Yes, actually I have always asked to see all of the contract documentation, including the financials, for the people buying the home of the people who are buying my listing. Is that what you mean by BFI?
All I kept thinking it was an FBI typo......and then thinking: What does the FBI have to do with this? LOL (laughing out loud for those don't know) LOLOLOL
I don't believe it's any of their business.
When I read BFI, I wondered why an agent would want to review anyone's Body Fat Index and what that had to do with real estate.
No; has never happened. Did you mean the Listing Agent?
BFI is what?
No clue what a BFI is. I appear to have company.
Personally I would want to see their home and comp's as to the number on it.
There are enough noses already looking at their credit and history and as long as the mortgage broker was a good one and approved it no.
Highlands Ranch, CO
Renee Paray It was customary to review the buyer's financial's with an offer. A must for cash buyers to show proof of funds.
Have no clue what a BFI is. Don't you love real estate acronyms in different markets?
Candice A. Donofrio
Fort Mohave, AZ
It is important to know the status of all contingencies.
I always request the contract, and lender approval letter for the contingent property.
No I haven't seen that one yet
I have not had any agent ask for that.
The buyers buyer a principal and not a party to the buyers contract with the seller, would have to agree to that, and why would they? They already have a contract in place to purchase the buyers home. And, even if the buyers agent had access to this information, it would be totally illegal to pass it on without the BB's consent.
If the deal hinges on a sequence of parties abilty to perform, then I would want to see the financials of all parties involved in making the deal(s) happen.
She has no relationship with the buyer's buyer so therefor has no authority to ask for anthing. She is at the mercy for what they wish to provide.
The contract and mortgage committment is enough.
I have on a couple of rare instances...Wasn't getting a great feeling from the agent
I've never run across this situation. (tongue-in-cheek since I've had no transactions yet :0)
I'd have to check on the legality first before asking for it as a listing agent, or requesting it from my buyer on the flip side, as I sense potential privacy issues. Completed sales are public information, pending offers are not. The other party(ies) involved might object to having their information disclosed to parties not directly involved in their own transaction. I know I sure would!
At a minimum, I think as CYA the other buyer would have to be consulted and, if amenable, grant written permission to disclose their contract (including attachments such as proof of ability to buy).
Regardless, I personally would advise my sellers that if they do accept an offer with a contingent sale to keep marketing their property and taking backup offers.
Never heard the tern BFI.
Rarely would a seller here give a contingency to buyer to allow them to sell their home first. If I was the listing agent and buyer made offer on my listing, I would contact buyer's listing agent (hopefully it's the same buyer's agent making offer on my listing) but often they are selling in another state so I would contact their listing agent to coordinate transactions. I would want their contract and find out all the possible reasons their buyer could back out or deal can fall apart because that could cause a domino effect because my seller may have a contract for a new place.
I have the same question as the four earlier commentors.
I am unclear on the meaning of BFI.
I'm not sure what a BFI is, however, I ride the buyers agent like a rented mule to make sure that the sale of their home is proceeding without a hitch. I ask when considering the offer if it already on the market and what the interest is.
OK, now that I get it: Buyer's seller wants buyer's buyer's financials. Buyer has provided loan commitment and proof of the sale. I imagine there is a contingency period. I would also imagine that there is a clause in the contract that authorizes seller/seller's broker to be updated on the status of buyer's sale. If they are that worried about the deal falling out, which is always possible . . . they may want to pass on the deal. If I were the buyer's buyer, I would not want to provide that information.