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Hi-
I am in the process of trying to buy a house. I made an offer on a house and the seller came back with a counter that was $3500 higher. I took 2 days to mull it over. During this time the seller got anxious and went to my agent saying he hope he didn't scare me away and said he would accept my original offer. My agent never told me. If the agent would have told me I would have accepted.
As it turns out the agent might have just cost me my house. She called me yesterday to tell me that another buyer has made an offer and the seller countered. The other buyer has 24 hrs to respond.
Also, I am trying to make the deadline for the first time home buyer credit (4/30) so I have a 2nd runner up house in case house #1 falls through. It makes me sick to think that this same agent could claim procuring cause since she was the one that initially showed it to me.
Questions
1) How serious an offense is it considered to not tell a client about an offer? Is it something that I should inform their broker about?
2) Is there anyway that I could get out of having the agent be the procuring cause on house #2 based on the circumstances?
Not trying to be evil I just think she should learn a lesson.
Is the agent that is working with you the seller's agent, or is she exclusively your buyer's agent (meaning, did you sign with her to represent your interests)? (Or, for that matter, is House #1 a For Sale By Owner and the seller has no representation.)
That's a critical piece of information to know in order to answer your question.
Curious, did you ask her why she did not tell you of the counter offer ? Did you ask her if she represents the other buyer also ? Is she also the listing agent and do you have a Buyers Agreement with you ?
I'm trying to determine is if you are really her client or an unrepresented buyer who made an offer.
How do you know she was told anything? Did she say, "Hey the seller told me he would accept your offer, but I decided not to tell you because I'm mean like that." How did it come about that you know?
Plus, as said above, if he was willing to accept your original offer, he had the original he could have signed and sent back with no issues.
Hi all
Thanks for all the responses. I am going to try and answer all your questions in 1 response.
The agent represents me as the buyer. I signed a exclusive buyer agreement. The property wasnt FSBO. To my knowledge my agent was only representing me. Did I ask my about who exactly she was representing? No I thought it was law that she has to disclose it.
How did I come to find out about the sellers interest in accepting my original offer? She told me herself in conversation as she as calling to tell me that another buyer had just made an offer.
I was under the impression that the sellers counter to my original offer auto cancels my offer, no? (I'm in GA in case it matters for RE law) Meaning if my agent would have told me the seller was interested in accepting my original offer I would have just needed my agent to resubmit my original offer again, he'd accept and we'd be good to go. Although silly I thought it was a formality to have to resubmit orig offer again.
Right after I wrote this post this morning I was informed by my agent that I lost the house to the other buyer.
Thank you for sharing any thoughts you might have on the situation.
This still doesn't answer the question, how did your agent, if she was not also the listing agent, find out that the seller had changed their mind? If your agent was not also the listing agent for the seller, she would have had to find that out from the listing agent, not directly from the seller. Just as she would have had to find out about the other offer from the listing agent, not directly from the seller.
By the way, in trying to get the answer to the "is this your agent" question, I looked at your previous posts and noted that in 2008 you were studying to be an agent yourself. I take it that didn't happen?
TexasHorse Lady-
The seller is a RE broker representing himself in the transaction.
At one time I studied to be an agent but changed career directions.
So, the seller, as his own agent, told your agent that he changed his mind and was willing to take your offer (and did this verbally, not in writing and as 2bindenver said, verbal is meaningless, all that matters is what is in writing - here, by the way, the seller could write an offer and present it to you), your agent did not tell you, and at some point between your agent being told and her telling you that he said that, another offer came in and he also advised your agent of that fact, and you were told about both, by your agent, at the same time. That about cover it?
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