Home Buying in 33408>Question Details

Nhtaylor, Home Buyer in 92506

We were one of three people bidding on a house. Our offer was the best but the buyer's agent did not want to deal with my husband so we

Asked by Nhtaylor, 92506 Fri Feb 25, 2011

lost.Legal?

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Nhtaylor,

Unfortuantely, it looks like you were not represented by a buyer's agent; but went through the seller's agent. If that is the case it is unfortuante. The listing agent primary responsibility lies with the seller. As long as the agent presented yoru offer to the seller; the seller has the right to accept, refuse ro counter ANY offer received. Some sellers do nto make rational descisons. Others base their descisons on other factors.

As recommended below, I would hire a buyer's agent to work for you exclusively to avoid this from happening again. You do not pay the agent. When you find a house and it closes the seller pays your agetn out fo the proceeds at closing.
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1 vote Thank Flag Link Sat Feb 26, 2011
To reiterate some of what I posted earlier;

You did not have an enforcable contract with the Seller. The Sellers are the only ones who can actually accept, reject or counter an offer by signing the contract.

The Sellers may accept the Highest offer or the Best offer or the Highest & Best offer or even the Lowest and worst if they choose!

Therefore, if you have anything legitimate to complain about, it may be that the Selling Agent may not have treated you as respectfully as he possibly could have due to personality conflicts or what ever really went on...

But, there again, you did not have any contractual agreement between you and this Agent. You never entered into an Agency relationship with this Agent.

I would Highly suggest getting yourself a Professional Realtor to properly handle your R/E affairs. They will see to it that your offer will be offered responsibly, professionally and ethically. More importantly, they will keep you and your husband away from the Seller and/or Sellers agent and do your bidding for you while professionally keeping your Best interests at Heart.... -Everybody Wins!

Read this: http://www.trulia.com/blog/leegoade/2011/02/realtor_or_real_…

http://www.tinagoade.com/WhyChooseus



Cheers, Lee
1 vote Thank Flag Link Sat Feb 26, 2011
That does not make sense Realtor's are paid at closing sounds like other issues

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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http://www.lynn911.com
1 vote Thank Flag Link Fri Feb 25, 2011
Hi Again,

Also did the other buyer pay "ALL CASH"? Was your offer also ALL CASH?

If you are going FHA with only 3.5% down it may be more risky for a seller to accept an offer from you because the house needs to be in fairly good condition to pass the FHA appraiser's inspection. For example the roof must have at least 2 years of life on it, no peeling paint, no rotted wood on eaves, no exposed electrical wiring.

The only case you may have against this realtor is if he DID NOT present your offer to the Seller. If the Seller chose to go with a different buyer well there is nothing you can do about that. Also have you considered the listing agent was offer "additional" commission by the buyer that ultimately got the house? I have seen this happen when there is a spectacular bargain priced house.

That's another problem, if this was a "regular" sale (not a short sale or bank owned) then it appears the Seller may have sold too low based on the fact that multiple buyers were clammoring for the property. He may have done his seller a serious injustice! You may even want to try to contact the previous owner to see if he was ever presented with your offer. If he wasn't that seller may be furious and take legal action against the listing broker. Then you may have a case against this Realtor! You wouldn't be able to reverse the sale but you may be able to inflict some pain on him with the formal complaint process.

Hope this helps and immediately go find a Realtor you and your husband are comfortable with. As you can see you had no advantage by going through the listing agent directly!

http://www.DaveRamsey.com has Endorsed Local Providers in Real Estate so you may try there for an agent.

Good luck on your nome search!

All my best,
Alma
0 votes Thank Flag Link Sat Feb 26, 2011
One of the items not discussed is how much downpayment was offered by each party. Although you offered to close in 30 days there may may have been other options for the seller to do with timeline and deposits. To the seller, it may not just hace been about final amount received.

It's not personal, it's business.
You'll find a better place,
Susanna
0 votes Thank Flag Link Fri Feb 25, 2011
This was a standard sale and yes, we were on notice that there were two others making offers. The seller's agent did not want todeal with my husband. The house sold for less than what we offered, and we were going to pay closing costs and close in 30 days. The offer that was accepted was contingent on the successful closing of that buyer's house and the seller had to pay closing costs.

It didn't make sense that our offer was not accepted unless the seller's agent poisoned our offer. What do you think? It is a done deal now...but I would sure like to at least make a complaint. Suggestions?
0 votes Thank Flag Link Fri Feb 25, 2011
Dear Ms. Taylor,

Did your offer actually get submitted? How do you know your offer was the best?

Was this a Short Sale? If so you need to know the seller is under no obligation to accept the "best" offer. In fact the Seller on a Short Sale has 100% control over which buyer will get an opportunity to purchase his house at (hopefully) a bargain price. The listing agent on a Short Sale also may have a significant amount of influence on the Seller so it is wise not to upset the listing Realtor in any way, too. Absolutely do not make any demands from the Seller or Listing Agent. Be VERY courteous if the owners are present at any showings and even if the house is a disgusting mess, do not think you can try to "bargain" with the owner by pointing out deficiencies with the house. Once the Seller allows your offer then the underlying lenders and PMI companies will order an appraisal and decide if the offer is acceptable or most likely they will give a counteroffer at or near full market price.

It is in your best interest to have your own agent help you--especially on a bank owned or short sale. Negotiators for short sales do not want to see the same agent representing both the Seller and Buyer and often will only offer 3% if there is only one agent so a listing agent has little or no incentive to assist you. On my short sale listings I require any buyer to have their own agent of their choice to show the property and write their offer. It is in my Seller's best interest.

Good luck and if you are not comfortable with your "buyer's agent", you may want to ask his broker to assign another agent to assist you.

Hope this helps.
Alma
0 votes Thank Flag Link Fri Feb 25, 2011
First, I want to make clear that I am NOT taking the Agents or the sellers side! ***I am Neutral!***

But, How can you know who's offer was the "Best" fit for the Seller?

Was the above stated 'The Buyers agent" not your agent? (I'm lost on that one...)

The Sellers are the only ones who can actually accept, reject or counter by signing the contract.

The Sellers may accept the Highest offer or the Best offer or the Highest & Best offer or even the Lowest and worst if they choose!

Please reply (answer) to this thread and give us a lot more info. regarding your situation... Short sale, bank owned, Homeowner/seller, did you sign a Multiple offer addendum, etc, etc...

http://www.trulia.com/blog/leegoade/2011/02/the_1st_step_to_…

Thx!
0 votes Thank Flag Link Fri Feb 25, 2011
For any legal questions you may have do consult with an attorney who specializes in real estate; also consider contacting your agent's broker owner and or office manager and express all your concerns....
0 votes Thank Flag Link Fri Feb 25, 2011
Get an attorney, You should not be ignore for any personal reasons, if you have best offer and they refuse, ask for the refusal in writing, then ask for a written explanation. Take both to your lawyer and also to the local Realty Association in the area, file a complaint against the agent.
0 votes Thank Flag Link Fri Feb 25, 2011
These things happen.. it may be best to just move on.
0 votes Thank Flag Link Fri Feb 25, 2011
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