Is 30% under the asking price a ridiculous amount?

[Homesurfer]

I don't remember any clause in real estate lawa about "patently frivolous," though it has been a long time since I studied any of this stuff. Oops, the kick-butt bar scene in "Serenity" is coming up.

[sdhomes]

I stand corrected.

www.dre.ca.gov/pdf_docs/ref01.pdf

Examples of Unlawful Conduct - Sale, Lease, or Exchange
In a sale, lease, or exchange transaction, conduct such as the following may result in license discipline under Sections 10176 or 10177 of the Business and Professions Code:

14. Willfully failing, when acting as a listing agent, to present or cause to be presented to the owner of the property any written offer to purchase received prior to the closing of a sale, unless expressly instructed by the owner not to present such an offer, or unless the offer is patently frivolous.

[Bob Crain]

Once again "Patently Frivolous" is not defined. I would suggest submitting all offers unless the listing agent has Written direction from the seller to not present any more offers.

[sam12]

Sand Man,

In our state, CA a Sellers agent doesn't even have to submit an offer if it is ridiculously low. ???

When I took my license the rule was "The listing agent must submit all offers to the seller."

It is interesting to know at what price an offer is too low to be submitted to the seller. Since the seller's price may change sometimes as much as 20%.
sam12
Just my thoughts.

[sdhomes]

When I took my license the rule was "The listing agent must submit all offers to the seller."

Same here, but that was almost 17 years ago for me.

There is a big difference between "patently frivolous" vs "ridiculously low", though.

I saw an offer earlier this week where the buyer offered 1,185,000 and wanted 150,000 back outside of escrow without disclosing this to the lender. That one is patently illegal. Still presented it though, with a cover letter explaining my position on why it should be rejected, not countered.

Paper trails are good.

[Jnazareno]

go for it! it's either yes, no or maybe a counter offer..