How do you define "offered for sale"?

[PropertyEconomics]

Once again, I totally disagree. I think your view is overly complicated. It is either for sale or not for sale prior to an OFFER to buy it. To offer requires an action, one not taken by the seller in this case. Their action was taken as the result of the offer they RECEIVED. I'm not confusing offering with listing because both require an action to be taken, not a reaction. An acceptance is not an offer to sell, it is the reaction to an offer to buy.

Sure seems like a funny *** hill to die on but if this is your hill ... God Speed. I personally think you are wrong .. and we can leave it at that. Apparently a lot of others do as well.

Battle on Mr Isolda ... Battle on.

 

[athome77]

For clarification:

Homeowner was approached, unsolicited, by the neighbor across the street. Neighbor wants to buy the house so his newly divorced daughter can be closer. Homeowner says "how much?" Neighbor says "I will give you $250, 000." Seller says "sold." According to the homeowner, that was the entire extent of the negotiation.

Have done dozens of FSBOs on the 1004 always indicating "No" in the offered for sale box when there is no evidence of MLS, "Thanks Buy Owner," Craigslist, newspaper, or other marketing efforts. Never had a problem.

Semantics aside, was just hoping to find if there was something I was missing in trying to find specific reference to this issue among the FNMA Form pros.

In the grand scheme of things it matters not to me which box is checked, just looking for a leg to stand on for my interpretation of a vague question.

Thanks all for your opinions.

 

[Paul Isolda]

Are you guys serious? You really consider your scenarios an offer to sell? Wouldn't the offer to sell in your scenarios occur AFTER the offer to buy? That's what you want to call an offer to sell? Makes no real sense to me, I don't think you are thinking reasonably about this. We are not attorneys here, this is not an exercise in semantics. I personlly would not call the situation athome has described as the seller offering the property for sale as it would apply to the question on the FNMA forms. You can give me these crazy "The only way for a contract to exist without the seller offering it for sale would be if the seller blindly signed the contract without knowing what it was" lines but they do not make sense. Sorry, I just don't see it.

 

[AnonApprsr]

Wouldn't the offer to sell in your scenarios occur AFTER the offer to buy?

Yes. No where does it say an offer to sell has to come before an offer to buy.

 

[Paul Isolda]

PE, I take offense that I'm "dying" on some "hill" over this stupid issue. Not everyone in this thread agrees with you. Why the hell am I dying when I continue to make a sensible argument? I still fail to see how an unsolicited offer to buy constitutes the seller "offering" the property. Do you really think that who ever wrote the question for the form was thinking to way you are? I certainly don't.

 

[Chris Colston]

PE, I take offense that I'm "dying" on some "hill" over this stupid issue. Not everyone in this thread agrees with you. Why the hell am I dying when I continue to make a sensible argument? I still fail to see how an unsolicited offer to buy constitutes the seller "offering" the property. Do you really think that who ever wrote the question for the form was thinking to way you are? I certainly don't.

The author of the question, was originally concerned with determining if the property was being illegally flipped. By reporting any and all offerings of the subject within the 12 months prior to the effective date, it was supposed to help uncover more than one possible offering that might indicate something less than above board was going on. It is MNSHO, that the neighbor (seller) accepting the OFFER from the other neighbor (buyer) , that the box on the form should be checked YES and further explanation is required regarding the offer.


BTW, since when was advertising in the newspaper and having a yard sign considered NOT exposed to the market? Agents advertise in the newspaper, along with MLS. Why is MLS the be all and end all for open market exposure?

 

[Paul Isolda]

Newspapers and yard signs are advertising and exposure to the market, does everyone continue to miss athome's statement this was an unsolicited offer?

 

[BRCJR]

..........................................

Have done dozens of FSBOs on the 1004........................ QUOTE]

Old form I hope

 

[AnonApprsr]

If the home is not offered for sale, than no one can buy it, they can only steal it. Or it's been foreclosed on!

 

[Smokey Bear]

Legally speaking, both parties make an offer and both parties accept. Just say yes but explain it wasn't marketed on the open market. You're making a mountain out of a molehill. Analyze and report the contract and the sale and be done with it.