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Hi all, obviously this question may get answered by a lawyer, but I'm curious as to if there is anything there.
I'm 24 and made an offer on my first home. It was a short-sale and I got a counter offer 3 days later. I counter offered again, and the counter has been accepted (3 months later). Here's where things get hairy.
I showed my Dad the contract, and he asked where the counter-offer was. I was told it was all verbally done, my father buys lots of commercial real estate, so he knows the process pretty well, he said that's unusual, but that there must be something in writing, especially since it was a short-sale. It's especially unusual to him that the first offer was countered 3 days later, then the next took months to accept.
So I ask the real estate agent, and he finally relents that he just told me that was the counter because the other agent told him to say that - My offer was never submitted for consideration!! My agent is new to the game, so he might not have known better.
At any rate, I haven't waived my conditions yet. What should I do? If this was misrepresented can I sue my agent? At the very least, if he lied to me and didn't represent my interests, is that against a code of ethics? I want him to lose his job if nothing else.
Assuming your agent works for a broker, contact the broker and tell him/her your story. Make it clear that you are not happy and you expect them to make things right.
So I ask the real estate agent, and he finally relents that he just told me that was the counter because the other agent told him to say that - My offer was never submitted for consideration!! My agent is new to the game, so he might not have known better...
This sounds very strange. I can't imagine a buyers agent telling his client that there is a counter offer, and the sellers agent told him to say that. And I can't imagine for what reason a sellers agent would tell a buyers agent to say something like that. It would be more reasonable for the buyers agent to say the contract was not accepted and let's go look for more houses.
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At any rate, I haven't waived my conditions yet. What should I do? If this was misrepresented can I sue my agent? At the very least, if he lied to me and didn't represent my interests, is that against a code of ethics? I want him to lose his job if nothing else.
What are you going to sue him for? What money damages have you suffered?
The seller apparently did not accept your offer.
If the agent gave you false information then that should be reported to his broker. However, I don't see any cause of action. And I suggest that you have all of your email correspondence to show the broker to prove this allegation.
If this happened in exactly the way you say it did, then the brokers of both agents should be notified because they were not "honest", which is a fiduciary duty.
I'm not saying this didn't happen, but the way you explained it really does not make sense.
So I put in an offer on a short property listed at $119k, I lowballed $95k. Three days later I get the call that they've countered at $113k. I counter at $105k and that's really all I'm willing to go on this property. When I signed the "counter-offer." I was a whole new offer. Not done the way I'm told is typical, which is crossing out figures on the original offer. My $105k offer get accepted.
What happened was my agent told the other agent what my offer was. The other agent told mine that I need to offer more, and to tell me that the bank countered on the house. I'm assuming that this is to squeeze out a few more commission dollars. The thing is the bank never saw nor considered my $95k offer, which may have been low, but the house next door is the same development, it's a little bigger and went for $99k in a short sale a few months ago.
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Originally Posted by Captain Bill
This sounds very strange. I can't imagine a buyers agent telling his client that there is a counter offer, and the sellers agent told him to say that. And I can't imagine for what reason a sellers agent would tell a buyers agent to say something like that. It would be more reasonable for the buyers agent to say the contract was not accepted and let's go look for more houses.
I'm my agent's first client. He's new to the industry, maybe is getting bad advice from people who don't have his interested.
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What are you going to sue him for? What money damages have you suffered?
If I overpaid based on my agent misrepresenting the status of my initial offer, I've potentially lost $10k
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The seller apparently did not accept your offer.
They accepted at $105k. This is a short sale.
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If the agent gave you false information then that should be reported to his broker. However, I don't see any cause of action. And I suggest that you have all of your email correspondence to show the broker to prove this allegation.
That's the thing, he won't ever write down what he told me about the counter offer. I have started recording my cell phone calls though. Should the fact that he has nothing in writing about their "counter-offer" be enough to prove my allegation? In my opinion (and in most civil trials) the onus of proof is on the defense, in this case my agent who was not representing me well.
This sounds very strange. I can't imagine a buyers agent telling his client that there is a counter offer, and the sellers agent told him to say that. And I can't imagine for what reason a sellers agent would tell a buyers agent to say something like that. It would be more reasonable for the buyers agent to say the contract was not accepted and let's go look for more houses.
What are you going to sue him for? What money damages have you suffered?
The seller apparently did not accept your offer.
If the agent gave you false information then that should be reported to his broker. However, I don't see any cause of action. And I suggest that you have all of your email correspondence to show the broker to prove this allegation.
If this happened in exactly the way you say it did, then the brokers of both agents should be notified because they were not "honest", which is a fiduciary duty.
I'm not saying this didn't happen, but the way you explained it really does not make sense.
Shocking! Bill calling another buyer an idiot and blindly supporting another realtor who clearly did a poor job for his client but still expects to get paid.
You are using an agent for a SHORT SALE that has NEVER had a client before? I'm trying to think of a worse decision, but none come to mind.
Not a mistake I'll make twice. I regret it terribly, I've already told him that if this falls through that I'm done working with him. He's a disaster to work with.
If I can make myself sound even dumber... He also has a full-time job. Yep, I made a mistake and I know it. Live and learn.
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