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Last Updated: 21.09.2022
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- During multiple bid situations, are preparing their offer as cash (or conventional) but then later are switching over to an FHA/VA loan once they have the home tied down. These agents know upfront their buyer is going to get an FHA loan, but they don’t want to disclose it at the time of the offer. This is unethical.
-  if you are a listing agent and have concerns about this, please insert into the offer the following verbiage, under number 14:
- “If at any time during this contract period, The buyer changes to an FHA or VA loan, this contract will automatically terminate and become void. All due diligence and/or earnest monies will immediately be forfeited to the seller.”
It has been brought to my attention that agents in other companies
