2012 Vice Chair GLVAR Property Management Committee
Southern Nevada Property Management
8871 West Flamingo Road Suite 202
Las Vegas, NV 89147
I would recommend that you follow the advice of my fellow agent
from Realty One Suzie Marquardt.
If I can be be of any assistance please contact me @ (702)281-
2225 or email:firstname.lastname@example.org
Realty One Group
I KNOW LAS VEGAS AND HAVE FOR 40 YEARS
"my agent had the seller date the contract as of when the verbal offer was made"
"The seller is a buyer's agent and the seller has a different agent. "
"Part of the contract is not as described or what I agreed to in my email confirmation"
1. Do you have a buyer's agent who is representing you (and no one else in the transaction)?
2. Verbal offers, verbal agreements, and email confirmations have no place in real estate contracts. Why are the terms not being addressed timely and properly in the form of written and signed contract, counter, & addenda?
3. You & your agent should probably review the timelines in the contract for due diligence, and other requirements. They typically begin upon acceptance, regardless of the date on the contract. Signatures should be dated on the actual date of signature, no exceptions.
But there is something you should consider: you want to change the terms of the offer you made (not really a counter, but that's besides the point). If you send notice to change the offer amount, the seller may simply cancel your deal and move on to the next buyer. You should not assume that this will be a back and forth type of negotiation. If you are changing your offer at this point, you should be prepared to walk away if you don't get what you're asking for. You may not get the chance to back peddle if the seller isn't going for your new price.
Best Of Luck!
As you can see what I'm getting at here, It's all about "written" contracts/counter offers/addendums/confirmations etc... I highly suggest contacting your agent's broker and have him/her get involved directly.
Best of luck.
Unfortunately, you should have not done anything, the home inspection for instance, without the signed agreement.
The changes on the terms and conditions by the seller on your initial verbal agreement constitutes a counter offer. Therefore, your initial offer is considered invalid and no contract exists because of the seller's counter offer.
I am not a lawyer either and please consult a legal expert for further advice if you need it. Moreover, open a communication with your agent. He/she owes you fiduciary duties if you have a representation agreement.
Part of the contract is not as described or what I agreed to in my email confirmation for the offer so technically the deal has changed again.
Also, this is not a bank owned home or a special case like a short sale. It is the usual, normal home purchase with an inspection contingency. The seller is a buyer's agent and the seller has a different agent.
I was asking because I had to fight with this agent over the phone about contracts and a "counter-off" being a new contract. I'm no lawyer, but I am a CPA.
It's your agent's fiduciary duty to represent your best interests. If you don't feel you are being being represented, take it to the next step and contact his/her broker directly. Finally, since you have no earnest money at stake, either walk away from the house and/or find another agent to represent you. Even if you have a buyers broker agreement, the fact that the agent refuses to represent your best interests by negotiate on your behalf should make the contract void.
Also, there is no such thing as "the seller's counter offer" is part of the "original" offer, that is why it is called a counter offer. After it is executed by both parties, the terms and conditions will supersede the original offer and become an addition to the original contract.
Best of luck.
Since you paid for an inspection before the contract was signed it is very likely you are trying to purchase a bank owned or some other property not conforming to a traditional sale. Paying 300 to 500 for an inspection for a traditional sale indicates there are a few wheels loose on the wagon. I highly doubt your agent suggested an inspection prior to contract on a traditional sale.
Not long ago I represented a buyer who submitted a low ball offer (this is NEVER a bad thing) and the seller responded as expected, they lowered their price to same proportion the low ball was off target. The buyer then submits and even lower offer. As you can see, there will be no "meeting of the minds" in the situation. At what point should I have refused to have this buyer waste my time? No, these buyers over the course of two years never purchased a home are are still not property owners in Pinellas county.
Honestly I'd probably fire them regardless. Verbal means absolutely nothing, it's referred to as idle conversation. In real estate only what's written and signed means anything, and as your agent doesn't know or understand this, it's a good indicator you're working with the wrong agent.
If you've signed on with them as a Buyer Broker don't worry about owing more than one commission, fire them and go sign on with a more experienced buyer broker, the moment you do you're fine.
A couple of things you may want to consider, Don't ever waste your money doing inspections on a property until you have a signed agreement. You do inspections after a contract is in place. During your diligence period (inspections, title examination, possibly survey, check on insurance etc) you may discover things which change your opinion of value, which is what happened after your inspections of this property. You then have the right to try to work out something with the Seller or terminate your contract, and walk away. You may want to remind your agent and the Sellers agent that now that the inspection has been done the deficiencies are public knowledge and must be disclosed by law.
I'm assuming the listing agent ad your agent aren't one and the same, but if they are this was your first mistake. Never allow the listing agent to represent you the buyer, this is clearly a conflict of interest regardless of whether it's legal in the state your buying or regardless of whatever nonsense the agent tells you abut being a neutral mediator.
To find a good Buyer Broker you might want to read the link I've attached below.