If you or your agent and the seller do not know what is going on, I would have the seller contact his agents broker and have your agent get his broker involved. Hopefully they can figure it out for a win win with you and seller being priority. If not I would consult with an attorney.
Best of luck
Nancy Doyle http://www.nancydrealtor.net
There has to be much more to this then we are being given......
Does this price increase involve the broker? On the surface it appears unethical but scratching below the surface may greatly change this thought.
Additional information would probably be helpful......
If the contract is signed by all parties and notice has been served to all involved then it is considered binding. For a specific ruling on this circumstance you should have it reviewed by an attorney or the managing brokers involved.
Do you have a signed purchase and sales agreement? Signed by all parties? Or just a verbal agreement between you and the seller? If you do not have a signed agreement (offer) signed by you when you made the offer and then signed (accepted) by the seller and notice of acceptance received back to your Realtor (binding) then you do not have a binding agreement. I agree that all counter offers should be in writing--it sounds like you may not have a binding agreement yet. And if this is a short sale then it would be the bank/lender that has to agree to the terms of the offer not your friend the seller. In real estate if it is not in writing it is not a legaly binding agreement. Is the home still being actively marketed?
The broker is the problem , the agents agreed for 2000. each the broker wants the 10000.More. But there is no ! written counter offer. or any explanation why other then the excuse that the owener does not know what he wants or needs , but like I said I know the owner, the broker did not know this.Thats why I think its Uneithical .
I know all this, We are waiting for the written counter offer, closing is set for Dec 22. I am paying all closing.I have all my stuff in order. my agent called me back said verbal offer was this amount, I ask for it in writing nothing has come back yet. I know seller he does not know what is going on. We don't either.
Unfortunately, a verbal counter offer is not legally binding. houses sometimes do (on paper) sometimes sell for more than the listed price. usually this is to cover the seller paying closing costs,etc.You do not have an agreed upon price,until you get it writing.
More information is the buyer and seller agreed on price of house ,agents wrote contract , agreed on price, then all of sudden ,Broker wants $10000. more then was agreed on , and $1000. more then list . Seller dont understand he needs to sell house , we want to buy house.
I THINK THE KEY HERE IS TO DEFINE "has been agreed upon with buyer and seller".
WHAT IS IN WRIGHTING CAN ONLY BE CHANGED IN WRIGHTING AND IF THE BUYER HAS CHANGED THE ORGINAL TERMS .. SAY ASKED FOR REPAIRE TO BE MADE THEN THE SELLER COULD ASK FOR MORE MONEY ...
TO BEST ANSEWER THIS I NEED ALL THE FACTS...REMEMBER REAL ESTATE IS ALL AND ONLY ABOUT WHAT IS IN WRIGHTING.