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re: Are phantom bids legal (real estate)?
Posted on 9/5/17 at 6:44 am to NYNolaguy1
Posted on 9/5/17 at 6:44 am to NYNolaguy1
I would walk or my best and final would be the exact offer I made. I would also ask for the listing agents license number, & managing brokers information as you are aware verbal offers mean nothing and pen to paper is the only way to legally bind a real estate contract. Using a verbal to attempt to enter into a multiple offer situation seems to push the ethical standards set forth by the National Association of Realtors.
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