Hi "Henderson" -

I understand your questions, but there must be some pieces missing from the puzzle. In order to open escrow, a title officer (legal 3rd party) must receive a purchase agreement and any/all subsequent counter-offers and/or addenda in addition to an earnest money deposit from the buyer. Unless and until all documentation and funds are provided, escrow cannot be officially opened. So, the good news is that your real estate agent probably just gave the buyer a verbal acceptance to move forward. That means that - technically - you can negotiate with other interested parties.

If it was your agent who misrepresented your intentions to the buyer/buyer's agent, then you should find another agent (aka: cancel your listing contract and re-list with another agent). I have heard of a similar situation (albeit, reversed) once recently wherein a homebuyer called me to submit an offer on a property. He made it clear that his previous agent had in fact submitted an offer without his approval, verbal or written. There are some properties that can be negotiated through an online portal that connects an asset manager (seller's decision-maker) to the buyer's agent. Some such portals allow the agent to submit electronic information and decisions on behalf of the buyer. However, both the portals and the law are clear: as an agent, you MUST have your client's clear acceptance of whatever course of action is taken.

On the other hand, if you verbally accepted and then simply changed your mind before signing, then that's a whole different issue. Of course, as far as the law is concerned, you are not obligated to sell the home unless and until paperwork is signed by all parties. But, if you gave the buyer/buyer's agent (or your agent) the go-ahead then decided otherwise while paperwork was compiled, then the buyer will likely not be willing to reopen negotiations with you. It is a matter of not negotiating in good faith.

Either way, this should set your mind at-ease. Good luck!

Sincerely,

Linne Karstensson
Owner, OwnLakeLasVegas.com
Direct: (702) 525-9492
Email: Linne@OwnLakeLasVegas.com
Web: http://www.OwnLakeLasVegas.com

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