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Wouldn't the seller's counter, which the OP signed, be a valid contract for purchase at the time the OP signed it?
He does not indicate that the Seller signed the revised offer. He says (I think. It is very hard to tell since the post is unformatted and difficult to read.) that they sent the offer over, revised to the Sellers' counter.
OP calls it a "contract," but it appears that it was actually only a revised "offer" from the OP.
If I have read that right, it would not be a valid contract at that point.
I agree with Silverfall here, except in my state the Exclusive Right to Represent the Buyer spells out explicitly that an agency can write offers on the same property for different buyers, much like Disclosed Dual Agency as long as those offers are not shared with the other buyer. I've never done it myself, but it is legal in Maine.
It is legal in Oregon too, I just think it is a conflict of interest and it violates my company policy.
First of all NO, you should not have paid full price unless it was a brand new home. Not in this RE market.
This is bad advice. Many homes are priced below market value to draw multiple offers for the seller. You are confusing list price with market value. They are not the same thing.
I understand that he can represent both but chose not too and I had my stuff together but it just seemed shady and I have no proof but he told the other buyers what I was offering. It's in Houston tx by the way. Hind sight being what it is I should have paid full price since I wanted it. Just didn't like the way it went down.
The fact that you ended up using a random agent that just happened to be showing the house pretty much says that you didn't.
It is legal in Oregon too, I just think it is a conflict of interest and it violates my company policy.
I understand and as I said have never done it. Will you show the same house to multiple buyers if they want to see it? I'm not sure what I would do if two different buyers I had worked with for weeks or months decided to write offers on the same house and neither wanted to be referred to another agent. Something to think about down the road, I guess.
This is bad advice. Many homes are priced below market value to draw multiple offers for the seller. You are confusing list price with market value. They are not the same thing.
Right on with this, we have houses that sell for or above the listed price in the MLS. The listed is price is set by the seller and is based on their motivation.
I understand and as I said have never done it. Will you show the same house to multiple buyers if they want to see it? I'm not sure what I would do if two different buyers I had worked with for weeks or months decided to write offers on the same house and neither wanted to be referred to another agent. Something to think about down the road, I guess.
I will show the same house to multiple buyers. What I tell folks at my consultation is that I show them all the homes, but whomever decides to write first I will represent. The other party would have to be referred out or wait to see what happens with negotiations.
Sorry you did get the house but, I agree with the above advice.
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