Renee Paray, REALTOR (Coldwell Banker Preferred)

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Rainmaker
1,027,160
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

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. 

Mar 17, 2016 02:49 AM
Rainmaker
5,468,887
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

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....

Mar 17, 2016 01:56 AM
Rainmaker
3,766,314
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

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.  

Mar 17, 2016 07:35 PM
Rainmaker
1,321,172
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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.

Mar 17, 2016 02:34 PM
Rainmaker
2,706,951
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

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.

Mar 17, 2016 02:16 PM
Ambassador
3,717,135
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

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?

Mar 17, 2016 08:11 AM
Rainmaker
2,575,490
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

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

Mar 17, 2016 06:31 AM
Rainmaker
4,798,978
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't believe it's any of their business.

Mar 17, 2016 05:01 AM
Rainmaker
385,902
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

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. 

Mar 17, 2016 03:37 AM
Rainmaker
1,602,394
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

No; has never happened. Did you mean the Listing Agent?

Mar 17, 2016 02:54 AM
Rainmaker
1,638,266
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

BFI is what?

Mar 17, 2016 02:53 AM
Rainmaker
2,917,581
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

No clue what a BFI is. I appear to have company.  

Mar 17, 2016 02:47 AM
Rainmaker
1,338,508
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

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.

Mar 17, 2016 02:32 AM
Rainmaker
1,421,477
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

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.

Mar 17, 2016 02:24 AM
Ambassador
4,320,726
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Have no clue what a BFI is. Don't you love real estate acronyms in different markets?

Mar 17, 2016 01:40 AM
Ambassador
4,892,008
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

It is important to know the status of all contingencies.

Mar 18, 2016 09:12 AM
Rainmaker
4,477,565
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I always request the contract, and lender approval letter for the contingent property.

Mar 18, 2016 03:39 AM
Ambassador
3,402,361
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

No I haven't seen that one yet

Mar 17, 2016 03:30 PM
Ambassador
3,985,869
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have not had any agent ask for that. 

Mar 17, 2016 10:35 AM
Rainmaker
553,614
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

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.

Mar 17, 2016 10:17 AM
Rainmaker
803,308
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

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.

Mar 17, 2016 07:25 AM
Rainmaker
587,625
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

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.

Eve

Mar 17, 2016 06:56 AM
Rainmaker
3,985,637
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have on a couple of rare instances...Wasn't getting a great feeling from the agent

Mar 17, 2016 06:53 AM
Rainer
98,673
Becca Rasmussen
HomeSmart Cherry Creek - Highlands Ranch, CO

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. 

Mar 17, 2016 02:46 AM
Rainmaker
602,216
Mitchell J Hall
Compass - Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn

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. 

 

Mar 17, 2016 02:32 AM
Rainmaker
1,157,329
FN LN
Toronto, ON

I have the same question as the four earlier commentors.

Mar 17, 2016 01:44 AM
Rainmaker
6,029,933
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I am unclear on the meaning of BFI.

Mar 17, 2016 01:40 AM
Rainmaker
140,418
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

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.

Mar 17, 2016 01:36 AM
Rainmaker
828,840
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

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.

Mar 17, 2016 01:36 AM