If the seller's agent verbally tells the seller what the buyer has agreed to but does not inform the
seller that he is in possession of a written counter with an expiration date and he allows the offer to expire, has he breached his fiduciary duty to the seller and if so, what recourse does the seller have prior to closing?
Michele,
If the agent communicated to you the counter offer and you did not accept it, then he most likely fulfilled his duties to you. If you did not respond in time because of the deadline and the agent did not tell you of the deadline, then he could have. If he did not even tell you what the counter was at all, then he absolutly did.
Your recourse would be to report your agent and the broker to the state real estate commission. First I would call the broker of record though.
Did you go under agreement? Or did these buyers find something else?
There are a lot of questions that I would have for you to answer the question correctly.
Sean LaSalle
Weichert Realtors
610-737-5369
Michele
I would certainly think that the agent has broken his fiduciary duty but let me note that is without any research, I have never had this happened nor have I heard of it happening. I would suspect that recourse might be anything from reporting the agent to his Board of Realtors to taking the matter before the state board of realtors.
I would really need more information to answer your question. Feel free to call me and I can walk you through what you can do. 610 737. 5369
Sean lasalle
Weichert realtors
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