Home Buying in Miami>Question Details

Gleider Crom…, Home Buyer in

I signed a home contract , but now the listing says there is a better offer. Is that possible? I think that is not legal. Can somebody advice please?

Asked by Gleider Crombet, Wed Jan 2, 2013

I am buying the house in Miami, Florida, but there is a great deal of corruption in the real state market. Isn't the listing of the house I signed the contract for suppose to honor the contract? I appreciate any help on this matter. Thank you

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Answers

13
Hi Gleider,
If you summit the contract and it was signed by the seller and return to you,then you have an executed contract meaning your offer was accepted,but if you did not received the contract signed by the seller and the listing agent(by the listing I guess you mean listing agent) told you that there is a better offer,well can be a multiple offer situation,where the price is attractive enough therefore the seller will receive 5,6 or more offers to choose from.If you have an executed contract contact an attorney.Hope this help.
1 vote Thank Flag Link Wed Jan 2, 2013
Hi Mr. Silveira,
Thank you so much for your response.
Gleider
Flag Wed Jan 2, 2013
Meg is absolutely correct. Until the seller also signs the documents it is not a binding contract but an offer.
1 vote Thank Flag Link Wed Jan 2, 2013
Hi Ms. Sharp,
Yes, the contract has been signed by the seller. I have a copy of it. I also have a realtor representing me, but my realtor is a friend of the listing agent on this property. I do not think my realtor has my best interest at heart. Any advice about what I should do?
Thank you very much,
Gleider Crombet
Flag Wed Jan 2, 2013
If the contract was signed by the seller they should honor your contract or you could force the seller to perform as per contract. However if another offer came in at the same time that yours was submitted and its higher than your offer their is nothing you can do other than up your offer.
1 vote Thank Flag Link Wed Jan 2, 2013
Mr. Mongeotti,
Yes, the contract has been signed by the seller. I have a copy of it. I also have a realtor representing me, but my realtor is a friend of the listing agent on this property. I do not think my realtor has my best interest at heart. Any advice about what I should do?
Thank you very much,
Gleider Crombet
Flag Wed Jan 2, 2013
Yes, but did the SELLER sign the CONTRACT?

Curiosity; did you have a Realtor representing you?
1 vote Thank Flag Link Wed Jan 2, 2013
Hi Mr. Thomas,
Yes, the contract has been signed by the seller. I have a copy of it. I also have a realtor representing me, but my realtor is a friend of the listing agent on this property. I do not think my realtor has my best interest at heart. Any advice about what I should do?
Thank you very much,
Gleider Crombet
Flag Wed Jan 2, 2013
Hi,
As the previous realtor stated, it you have an offer in but is not signed, it is very common for sellers to take multiple offers, so no that is no illegal.
If it was signed by the sellers and now they are saying they do not want to honor the offer, then your realtor needs to advise the seller they cannot do that, or hire a real estate attorney.

Good luck,
Beth Jenkins
South Florida Brokers
786-374-4778
bethjenk1@gmail.com
1 vote Thank Flag Link Wed Jan 2, 2013
Good to see you hanging tough in this market.
Flag Mon Jan 28, 2013
Hi Ms. Jenkins,
Thank you very much for your help.
Gleider Crombet
Flag Wed Jan 2, 2013
Dear Mr Crombet,

If you have an EXECUTED contract, meaning the Seller and Buyer both agreed on the contract price and terms and signed it, you can tell you have a deal. If you however only PLACED the offer, there is an open end for other buyers and they can place offers and overbid you. If you work with a realtor he or she should be on top of things and take care of you as a client.
If you need any additional assistance or if you are not currently working with a realtor please contact me at 305.877.2880 or meg@viviendarealtors.com and I will gladly help you.


Best Regards,
Meg Sahdala

Vivienda Miami Real Estate Group, Inc.
E-mail: meg@viviendarealtors.com
Tel: 305-877-2880
Fax: 305-675-3976
http://www.Perfectfloridaproperties.com
1 vote Thank Flag Link Wed Jan 2, 2013
Ms. Sahdala,
Thank you very much for your prompt respond. I can't really tell you how much I appreciate it. I signed a contract subject to appraisal. I have already given a deposit, I paid for the appraisal, the inspection, and the house is even out of the market as pending sale. Nonetheless, the appraisal can way below the asking praise, and now the listing agent is saying that they have a better deal. I do not think this is right. Can you please advice me on this. Thank you once again.
Flag Wed Jan 2, 2013
Real Estate is a very competitive environment in Florida where there are MANY people wanting to buy a good piece of real estate. "GOOD" to a buyer, in many cases means, "How low can you go." Good to the seller, does not share the same definition.
-
If you did not 'lock' the deal, with a strong and accepted offer at the very beginning, then YOU left the door open for the seller to shop your offer. That's the reality,
It is competitive.
It is business.
It is not illegal.
It is what can and should happen if you don't know what you are doing.
It is what can and should happen if you are indecisive.
The 'HONOR' is securing the best price possible for the home seller.
Had you done that from the very beginning, you would not be accusing others of doing something illegal.
-
It is human nature to try to find someone else to blame.
-
Your agent, (you have hired one, RIGHt?) is your best resource to get your agenda back on track.
Of course, if you are saving money on representation, (DIY, discount, flat-fee, limited service, part timer) you may be on your own.

-
Your real estate professional WILL know what to do.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Thu Jan 3, 2013
Dear Lawrence,
First of all, I think it is safe to assume that some people went beyond a 12th grade education. Second of all, I am not accusing anybody. Maybe I did not include all the details in my question, but I think in that case, you should have done what the other kind people who replied to my question did: “ask for more details”.
I have an executive contract in my hands signed by me and the seller. I have already given a check for over $50,000 dollars, I paid for inspection, I paid for appraisal and in the MLS website the house appears as “pending sale”—maybe you know what that is. I have also walked away from other properties, and I have incurred in some other necessary expenses as well.
I think you should be very careful next time you sit down to write such a lengthy message without all the proper information. It makes you look unprofessional and ignorant. This makes me think that if I, as a potential client, am giving you this piece of advice, then you should be very disappointing within your profession. Thank you very much for your time and effort—and please be advised that I just say thank you out of courtesy, if you know what that is.
Best regards,
Gleider Crombet
P.S. I almost forgot to mentioned, when you write you should not be so repetitive. It makes your message so boring, and it shows your lack of skills as well.
Flag Thu Jan 3, 2013
I would be glad to help you clarify thei matter but firstly, are you sure you were under contract? It is an executed contract when Buyer and Seller have both signed and initial modifications (if any). If there is a contract, yes, you are right, it has to be honored and you can sue for performance of contract.
If only you signed, then it is not a contract, just an offer and the Seller is within his right to go with another offer. Do you have a Realtor representing you in this deal? Your Realtor knows these things and should guide you through the procedure. If you do not have one Realtor, it is very clear you do need one. Do not get discouraged, with the right guidance, you will soon find a home.
Let me know if I can be of additional help at ramirezmalca@yahoo.com
0 votes Thank Flag Link Wed Jan 2, 2013
Ms. Ramirez Malca
Thank you for you response. I have already furnished a check for over $50,000 dollars, I have paid for the inspection, for the appraisal, and the house is even out of the market as we speak. I have a copy of the contract as well signed by me and the seller.
Thank you once again,
Gleider Crombet
Flag Thu Jan 3, 2013
I can imagine that you are all frustrated, and it's sad and true that are many dishonest people out there. I can help! What I want to know Did the seller signed your offer? Because if he or she signed, that is an executed contract and in that case, yes it is illegal but if the seller didn't sign, he can accept any other offer. Call me, we can meet, we have an office in Doral and Kendall. I hope that answer your question. My direct line is 786-200-9375

Celia Bravo
Lic Realtor/Mortgage Broker
Realty World REC
csbravo@att.net
786-200-9375
0 votes Thank Flag Link Wed Jan 2, 2013
Ms. Bravo,
Thank you for you response. I have already furnished a check for over $50,000 dollars, I have paid for the inspection, for the appraisal, and the house is even out of the market as we speak. I have a copy of the contract as well signed by me and the seller.
Thank you once again,
Gleider Crombet
Flag Thu Jan 3, 2013
The question is, dod you sign an "offer" or a contract? The offer is what you made, the "contract" is what you and the seller FULLY SIGNED and INITIALED ALL, no changes or alterations ... so which one is it before you go making assumptions and/or accusations? I would need to see a copy of what you believe might be the "contract" to tell. Feel free to call me suring normal business hours at 305-328-9524 Ext 103. Regards, stevecepstein@gmail.com or thru my website below. Best regards, Happy New Year!
0 votes Thank Flag Link Wed Jan 2, 2013
Mr. Epstein,
Thank you for you response. I have already furnished a check for over $50,000 dollars, I have paid for the inspection, for the appraisal, and the house is even out of the market as we speak. I have a copy of the contract as well signed by me and the seller.
Thank you once again,
Gleider Crombet
Flag Thu Jan 3, 2013
Good Evening,

If as stated here by other agents you have a fully executed contract by you and the seller, then any additional offers the seller can accept would be considered a back up offer, in the event your contract does not go through. Without knowing if what you have is an offer or a fully executed contract it is difficult to provide you with a proper answer. Additionally, as real estate agents we are not allowed to provide you with any legal advise as we are not licensed to practice law, but just sell homes. If you do have a contract signed by you and the seller, then your best option is to seek legal advise for a real estate attorney that can look at the documentation and advise you of what your rights are. Please feel free to contact me if you have additional questions, or if you would like the name of a real estate attorney.

Lila Lopez, CRS, CDPE, e-Pro
RE/MAX Advance Realty
homesbylila@yahoo.com
305-772-2521
0 votes Thank Flag Link Wed Jan 2, 2013
Ms. Lopez,
Thank you for you response. I have already furnished a check for over $50,000 dollars, I have paid for the inspection, for the appraisal, and the house is even out of the market as we speak. I have a copy of the contract as well signed by me and the seller.
Thank you once again,
Gleider Crombet
Flag Thu Jan 3, 2013
Hello Gleider,

Here's a blog article I wrote explaining the difference between an offer, a ratified contract and an executed contract. Even professionals get it wrong at times.

http://theblogthatatemiami.com/2012/10/10/miami-whats-the-di…

If the documents you have were signed by yourself and the seller, and both parties agreed to all terms, then the seller is bound to perform as stated on the contract and an attorney should be contacted to help you.

The present market conditions are such that multiple offers are very common. If you made an offer, but the seller got a better one before they agreed to yours, they can accept the better one or they can give you a counter-offer changing your terms. Without knowing all the details, it's speculation.

Using the services of a Realtor in the future is something you may want to consider. We are trained to help you avoid these situations and most of the time our services are free to the buyer.

Best of luck.
0 votes Thank Flag Link Wed Jan 2, 2013
Ms. Dokic,
Thank you very much for your response. It has certainly helped me clarify some details that I did not understand before.
Thank you once gain,
Gleider Crombet
Flag Wed Jan 2, 2013
Hi Gleider
The best thing to do is get another house,better for u an if there deal doesn't go through which happens often
Down here,then they'll lose a true buyer
,please call me I'll find u a better home
In same area my number is 3053008540

Thanks
Anthony
0 votes Thank Flag Link Wed Jan 2, 2013
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