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Old 02-21-2011, 08:31 AM
 
1 posts, read 1,623 times
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I have a question...On Friday we put an offer in on a house, with a signed contract and a deposit. They told us they would meet us 1/2 way and we agreed on $312,000. My agent resubmitted the signed contract with the new price right away. We were told that the contract had to be sent to California for the seller to sign and then we would be able to go forward. Over the weekend they showed the house 3 times and received an offer. The sellers are considering accepting it. If the seller lived in the area the contract would have been signed right away. I know "verbal" is tricky but we also signed and gave a deposit with all our financial clearance. What can I do if anything? I appreciate ANY advice. My family was excited and making plans for this house as well as having my son signing up for little league in that specific town(which I know doesn't mean anything) but...can this really happen? and if so is there anything I can do? Thanks in advance for any feedback.
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Old 02-21-2011, 08:39 AM
 
Location: SW Austin & Wimberley
6,333 posts, read 18,010,638 times
Reputation: 5531
Quote:
What can I do if anything?
Nothing. What you sent back was either a new "resubmitted" offer, or a counter-offer, depending on the exact logistics. But no matter, its status is no different than that of any "offer", regardless of conversations or activities that preceded it.

If the seller receives a "better" offer, he is free to accept it instead of yours. This is why, as a buyer, whenever possible, you want a seller's initial response in writing and with markup of the original offer. Then that becomes the seller's counter-offer and, unless withdrawn before you sign, you have control of the deal and will be under contract after signing.

Your agent should be able to communicate with the listing agent and find out what's going on, but the house doesn't get taken off the market and the showings don't stop until the contract is final.

Steve
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Old 02-21-2011, 08:47 AM
 
Location: southwest TN
8,568 posts, read 18,056,555 times
Reputation: 16702
Quote:
Originally Posted by Dina hilemn View Post
I have a question...On Friday we put an offer in on a house, with a signed contract and a deposit. They told us they would meet us 1/2 way and we agreed on $312,000. My agent resubmitted the signed contract with the new price right away. We were told that the contract had to be sent to California for the seller to sign and then we would be able to go forward. Over the weekend they showed the house 3 times and received an offer. The sellers are considering accepting it. If the seller lived in the area the contract would have been signed right away. I know "verbal" is tricky but we also signed and gave a deposit with all our financial clearance. What can I do if anything? I appreciate ANY advice. My family was excited and making plans for this house as well as having my son signing up for little league in that specific town(which I know doesn't mean anything) but...can this really happen? and if so is there anything I can do? Thanks in advance for any feedback.

On Friday, you submitted a piece of paper with your signatures and a deposit. You didn't have a contract since there was no meeting of the minds between you and the seller. They negotiated, you verbally agreed to a new price. Your agent did not resubmitted a signed contract. The new document you submitted was still an "offer" until the sellers sign.

Sure you can sue. But I don't know what you are going to sue for - breach of promise? specific performance? (there WAS no contract) jumping the gun on decorating the house and signing up children for little league? Be somewhat realistic here.

#1. Do you have even a basic understanding of what is a contract?
#2. "received an offer. The sellers are considering accepting it." And? Considering - is there a signed Buy-sell? Meaning signed by BOTH parties?
#3. What IS your issue here?
#4. What has any of this to do with the original OP question of Exclusive Right to represent BUYER?
#5. Why are you resurrecting a 2 year old thread and changing the focus?
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Old 02-21-2011, 09:16 AM
 
11,113 posts, read 19,458,290 times
Reputation: 10174
Quote:
Originally Posted by Dina hilemn View Post
I have a question...On Friday we put an offer in on a house, with a signed contract and a deposit. They told us they would meet us 1/2 way and we agreed on $312,000. My agent resubmitted the signed contract with the new price right away. We were told that the contract had to be sent to California for the seller to sign and then we would be able to go forward. Over the weekend they showed the house 3 times and received an offer. The sellers are considering accepting it. If the seller lived in the area the contract would have been signed right away. I know "verbal" is tricky but we also signed and gave a deposit with all our financial clearance. What can I do if anything? I appreciate ANY advice. My family was excited and making plans for this house as well as having my son signing up for little league in that specific town(which I know doesn't mean anything) but...can this really happen? and if so is there anything I can do? Thanks in advance for any feedback.

Your agent should have faxed the offer immediately after you signed it in order to get signatures on acceptance, or scanned and emailed it to the seller with a call first that an offer was coming in. I would take Steve in Austin's advice as he is a TX Realtor and knows their rules, and knows the market conditions. You may have a busy market and multiple offers are common in a busy market.
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Old 02-21-2011, 09:45 AM
 
4,145 posts, read 10,402,557 times
Reputation: 3339
You can either up your offer or move on. Don't get married to a house. It's a house. There is NO perfect one.

If the seller moves in a different direction, take it for what it is and move on. I've seen things like this happen tons and EVERY time, the buyer ends up with a house that's better for them. Unanswered Prayers are sometimes our greatest blessing.
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Old 02-21-2011, 09:50 AM
 
11,113 posts, read 19,458,290 times
Reputation: 10174
Quote:
Originally Posted by kevcrawford View Post
You can either up your offer or move on. Don't get married to a house. It's a house. There is NO perfect one.

If the seller moves in a different direction, take it for what it is and move on. I've seen things like this happen tons and EVERY time, the buyer ends up with a house that's better for them. Unanswered Prayers are sometimes our greatest blessing.

Kev in San Antonio is absolutely right ... move on. It wasn't meant to be that's all.
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Old 02-26-2011, 06:10 PM
 
Location: stow
2 posts, read 4,335 times
Reputation: 10
pre qualifying meeting and informing your buyer from the beginning that ou are obligaated t them just as they are to you. check out Keller Williams it sounds like you need some training to avoid these situations that you are in. If i had a buyers agreement and that person bought a house with someone else I guess I would consider getting a commission or I would at least learn a lesson here and find someone that could teach me the right way to negotiate a contract and school up your clients
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Old 02-27-2011, 04:28 PM
 
1,156 posts, read 3,773,227 times
Reputation: 778
I totally empathize with the realtor's predicament because everyone's time is valuable. But as others have suggested, anytime you deal with the public in any service industry you run the risk of encountering quirky clients, some of whom aren't all that capable of making firm decisions with any dispatch.

So let it drop, save yourself the stress of court and worrying about all this further and move on. Life is too short. If you are always kind and ethical to your clients, which I'm sure you are, put your energy into the next client that comes along and keep distractions at a minimum. You also won't have that vibe of, "why does my realtor seem to have a cloud hanging over his/her head?"
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Old 12-15-2014, 06:27 PM
 
1 posts, read 875 times
Reputation: 11
Bunch of greedy scam artist realtors trying to sue to get the undeserved commissions they do nothing for. It's not even about their clients' happiness in finding a dream home, it is all about their commissions and what they can try to "squeeze" people for at any cost!
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Old 12-16-2014, 10:54 AM
 
Location: Columbia, SC
10,916 posts, read 21,890,647 times
Reputation: 10549
Quote:
Originally Posted by JulieDo View Post
Bunch of greedy scam artist realtors trying to sue to get the undeserved commissions they do nothing for. It's not even about their clients' happiness in finding a dream home, it is all about their commissions and what they can try to "squeeze" people for at any cost!
1-The thread is almost 7 years old.
2-Was the scum the person that spent time in good faith working for someone or the one trying to break the contract? (personally I don't think we can judge based on lack of info from the other side but maybe both or maybe neither)
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