Asked by Sherry Perry, BRYAN, TX • Wed Aug 4, 2010
After lengthy and expensive research, the issues that were discovered would severely impact the property appraisal and use. Due to weather issues, our inspection process took longer than expected. We discovered everything the day our option period was expiring. In efforts to not lose our earnest money, we terminated but and emailed the agent that we were still wanting to negotiate to work out a solution that both sides would be happy with. The very next day, the listing agent called previous interested buyers & put 2 other offers on the table. However, the two other buyers had not been informed of the defects. As I am also an agent, I know that defects and previous inspections are suppose to be disclosed. This not being disclosed to the competeing parties meant we were not all on the same negotiating grounds. IN other words, the other buyers put in bids without knowing the defects. The seller went with another offer, even though ours was over full price. What would you do?
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