I was speaking with a realtor here in California who specializes in short sale listings. If I understood her correctly, she says that the listing agent is required to only submit one offer at a time to the lender for approval.
For instance, if there are 3 legitimate offers submitted after the property has been listed, the seller’s agent along with the homeowner review the three offers and select which *one* to present to the lender for approval. If that is rejected, then they select the next best offer and present that, and so on.
If there are forum members that are experienced in CA short sale (especially as the seller’s agent), can you reply and let me know if I have this right? It sure seems wrong. If I were a lender, I would want to see all legitimate offers and approve the one or ones that were the best for the lender.