concern about breach of privacy

[Bernard Weingarten]

I recently bid on a foreclosure in my small city in CA. For weeks nobody bid on it, as if it was under the radar. The bank and I went a few rounds, and finally reached a verbal agreement on a number. So one Friday afternoon last month my agent entered my bid, and we expected the bank to approve it on Monday. It would be my first foreclosure; I was excited.  But... that Sunday two higher bids were entered. They came via the two agents who share my agent's corner office. They had been there and had overheard my bid. It seems too coincidental that a property that had no bids on it for quite a while, gets two other bids within 48 hours of mine, via the only two agents who know of my bid. My concern is that they took advantage of this knowledge of my bid and began pushing this foreclosure to their investors. I spoke with my agent about this, she spoke with the owner of the agency, who spoke to the two agents, and I will hear tomorrow where things stand.

In advance of that... does anybody have thoughts?

[Teresa F.]

@Account Closed --  Guess that depends on the jurisdiction.  I am a broker in Maryland and DC and anyone can call the real estate commission.  I have also filed a complaint about a property manager for my property in Alabama and the commission there investigated.  My suggestion to Bernard is that he call the Commission and tell them the situation.  The Commission may take action or may simply say that there is nothing to be done.  Regarding suing someone, anyone can sue anyone else at any time for any reason or no reason.  It's the winning that is a bit more difficult.  (Guess it is obvious that I was a litigator for many years.)