Home Buying in Greenwich>Question Details

Janice, Home Buyer in Greenwich, CT

I have a bad experience with the listing broker who claimed the property under contract within a day on the market. My broker sent in an offer which

Asked by Janice, Greenwich, CT Fri Oct 30, 2009

has the higher price than the listing price, and got no response whole day. After that, I asked the listing broker show me the confirmation/evidence that she sent my offer to the owner, she failed. I am thinking about hiring a good real estate lawyer to fight for me. Anyone can give me some reference of a good real estate lawyer in Greenwich-Stamford area?

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Tish Thompson’s answer
Was your offer made on a foreclosed property? Do you realize that when you ask an agent/broker to show you proof of submission of an offer, it's up to their CLIENT to decide if it's OK to do that? Do you realize that no matter how much better you thought your offer was than the other, the CLIENT ultimately makes the decision of what to accept? Just because an offer is higher doesn't automatically make it better to a seller. Maybe the other offer was submitted with a letter explaining why that buyer had to have that house, and the seller based his/her decision on that letter. A seller does not have to explain to you the logic behind their decisions. Properties go under contract the first day on the market all the time in my area. That just means there are good deals out there now.

I hope you have deep pockets to pay that attorney to scare something up, because speculation isn't going to get your very far in court.
1 vote Thank Flag Link Sun Nov 1, 2009
BEST ANSWER
I am not really understanding the dynamics.....it almost sounds astho your agent was unethical...did you sign a buyer's agreement with him/her as per Conn. State Law? Nontheless, Tom Ward is an excellent re attorney and perhaps he can advise you....-203-661-000;or Richrd Slagle 62 9-2424, or Erin S.Chang 422-0545..Good luck.
0 votes Thank Flag Link Sun Nov 1, 2009
Sounds like the agent made an effort to appease you. With this much attention on the matter, she would have surely informed the seller of the offer. Is this a bank owned property?
Even if the offer offer was for less, maybe it was cash or some other terms that made it more attractive to the seller.
I would recommend you move on from this. There's no point in pursuing it further. You will only waste your time and money.
Theres a lot of other houses out there.
1 vote Thank Flag Link Sun Nov 1, 2009
Janice, I was the buyers agent on a deal that just closed on a bank owned property. The seller accepted offers up to 9 a.m. on a specific day ..period..ours was the best up to that point. It was later disclosed to us that there was a higher, cash offer that came in one hour later but was not considered as anything but a back up. The seller can lay out whatever guidelines they want.
0 votes Thank Flag Link Sun Nov 1, 2009
The listing agent told my broker that the seller is accepting offers in the order they are received rather than highest & best. It is difficult to believe the story because my offer come in within the 24 hours after the property come to the market! By my request for evidence, the listing agent did send my broker a tablet with the information of what day my offer come in and the status of the offer( as a backup offer), However, it is not the communication evidence between the listing agent and the seller. Also , There is spelling mistake of the name and the number of the loan amount is wrong( I put 25% down in my mortgage pre-approval letter, and she put 5% down for me in her tablet). After I contacted my broker, she sent my broker a new version of the tablet with the correct numbers. I asked for seller's contact infomation, and the listing broker refused, she said that the seller is unwilling to be contacted by the buyer. I felt upset and lost all trust in her. I will file the formal complain to the real estate commssion and BBB, also, I am trying hard to find a lawyer who is expert in real estate .
0 votes Thank Flag Link Sat Oct 31, 2009
You are going to have a tough time with that one. I hear and understand your frustration, but the bottom line is, as previously commented: what did you lose. Perhaps you could consult with an attorney and get an opinion from a legal standpoint. Aside from that, there would be a complaint process in place through the Division of Real Estate and/or Local Real Estate Board in your area if you simply want to make the experience matter of record. Without knowing all of the circumstances, it's hard to say from here; we all deal with that sort of thing on a regular basis (unfortunately). We submit an offer for a buyer and find out we were 'beat out'; how are we to prove when, what, how, and how much the other offer was. Like I said: that's a tough one.

Best of luck.

Kim

Disclaimer: I am a licensed real estate broker and property/casualty insurance agent in the State of Ohio, providing information and sharing experiences acquired over 15 years in the industries. I do not profess to be qualified to give advice in any other field, though will share opinions and information obtained during my course of work. It is always highly recommended that consumers seek counsel from a specialist in each area in which there is a question or concern.
0 votes Thank Flag Link Sat Oct 31, 2009
That seems like a lot of work and cost just find out whether your offer was presented.
If the owner has in fact accepted another offer, whether yours is higher or not is really irrelevant since he has accepted another contract.

But I guess you believe the agent purposefully did not present your written offer?

Although it is frowned upon, nothing really stands in the way of you picking up the phone and calling the owner and asking him yourself.
Web Reference: http://www.homesbyminna.com
0 votes Thank Flag Link Sat Oct 31, 2009
I contact the listing agent's broker, and did not get any positive response. I am looking for a good real estate lawyer in this area.
0 votes Thank Flag Link Sat Oct 31, 2009
Have you tried contacting the agents broker?
Web Reference: http://www.homesbyminna.com
0 votes Thank Flag Link Fri Oct 30, 2009
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