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I would think the realtor would be able to claim the full commission regardless of who purchased the property ... unless the seller listed this 'potential buyer' as an exclusion. Thus, the realtor isn't entirely 'twisting in the wind.'
While it's unethical for the seller to divulge your offer to another potential buyer, there is probably nothing you can do about it.
One thing you might do is tell his realtor you are going to rescind your offer unless the seller agrees to sell you the property within 24(-48) hours. This will at least put the pressure back on the seller and other potential buyer, where it belongs. Otherwise, they will simply keep you dangling, while the seller uses your offer to accelerate the timing of his 'backup'. Take away your offer and suddenly, the seller is the one dangling in the wind.
Hmmm... that's an interesting thought. I'm not sure we are willing to take the gamble since we'd be making it a game of chicken between the seller and ourselves, but I hadn't thought of that.
Last edited by Schmooky; 09-12-2017 at 07:11 PM..
Reason: Typo
Haha, thanks . I drove around and ranted to my husband and feel slightly less disappointed. If we have to move on we do but the waiting is crazy making!
I wouldn't worry.. If the neighbors had the money, they'd have bought it already.
That's what we were hoping. Who knows if they can gather enough in a short period of time. It's been on he market 130 days already and they did nothing, which was part of our disappointment over the shenanigans. But if he gives them an ultimatum to match or beat our offer quickly and they can't we are golden. He wanted to offload it, according to the agent, so in that sense the discussions with neighbor were understandable. But promising to sell it to them as long as they were interested while keeping it listed was where the problem emerged.
The optimistic part of me is hoping you're right but the realistic part of me is bracing for disappointment and resuming our search.
My advise is not for everyone, but for me a buyer of 6-7 houses per year, I'd walk. I would want no part of this deal especially living with the next door neighbor that didn't get the house. Besides if you walk, and the nabe doesn't buy the house you may buy it cheaper than your current offering price.
My advise is not for everyone, but for me a buyer of 6-7 houses per year, I'd walk. I would want no part of this deal especially living with the next door neighbor that didn't get the house. Besides if you walk, and the nabe doesn't buy the house you may buy it cheaper than your current offering price.
"The Art of the Deal"---- D. Trump. LOL.
Logically you're right. I try to approach real estate that way in general. If this wasn't a low inventory area and the property wasn't a total dream I'd do it. I failed the quaternary* rule of real estate and got emotionally attached to a great parcel, thinking it would be ours with a solid offer and nothing pending. Shame on me!
It's for our family home, not an investment. That makes it harder. But you're totally correct.
*the primary, second, and tertiary rules having to do with location, which this has one of the best in town
The seller? I'm not happy with. But whether I like him or not I do love the asset he was selling, that had no offers pending and was listed for sale when we made our offer. I'm super unhappy with all the shenanigans but not enough to rescind my offer, because it's a fairly unique property. If it doesn't go our way we will just have to move on but I'm still hoping the almighty dollar prevails here
a. you've got no valid reason to be unhappy with the seller, based on what info you've provided.
b. if you want to hope for the almighty dollar, then raise it, and give him a deadline of Thursday 5 pm. And be prepared to win or walk. Or leave everything as it is, and be prepared for waiting on them for an unnecessary week
Last edited by BoBromhal; 09-12-2017 at 07:50 PM..
Perhaps the neighbor, seeing the for sale sign, told the seller, "Hey if you get an offer let me know, I'd like to beat it." Seller, feeling some neighborly moral obligation, complies, although he's thinking "why didn't a**hat neighbor make me an offer when it first went on market?" I agree with others...neighbor either has no money or no real desire to buy it. Hang in there.
Perhaps the neighbor, seeing the for sale sign, told the seller, "Hey if you get an offer let me know, I'd like to beat it." Seller, feeling some neighborly moral obligation, complies, although he's thinking "why didn't a**hat neighbor make me an offer when it first went on market?" I agree with others...neighbor either has no money or no real desire to buy it. Hang in there.
That seems to be exactly what happened, as far as we can tell. I'm hoping the 'no money' thing is accurate! We started our search again in the next town over, just in case though.
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. I drove around and ranted to my husband and feel slightly less disappointed. If we have to move on we do but the waiting is crazy making!
