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-   -   Buyers agent misrepresentation (https://www.askmehelpdesk.com/showthread.php?t=30038)

  • Jul 23, 2006, 08:40 AM
    sc430blue
    Buyers agent misrepresentation
    I have been in the process of purchasing a home through a buyers agent. The process has been long and we have passed the contracted settlement date. The sellers agent made me aware that another offer was now on the table but the sellers would still like to go through us as long as we had all our docs and amendments forwarded to him. I come to find out through my agent that the other offer was taken even though I sent all my documents. Things get worse, I find out from the sellers agent that my agent brought in the other buyer without telling me and my agent never forwarded my paperwork for the competing bid.
    I'm absolutely livid! Any suggestions?
  • Jul 23, 2006, 10:32 AM
    RickJ
    Two issues: the buyer agent agreement and the purchase contract... the most important one being the purchase contract.

    The seller "preferring" to "still go with you" really doesn't mean anything. Sellers are permitted to accept backup offers, but if the buyer has met all of the terms of the purchase contract, then you and the seller are still "in contract".

    At the point where you have not met a term of the purchase contract, the seller has a right to enter into another.

    There are other details that would be needed to know if you have a legitimate grievance against your agent or not, but I would at least have him explain it from his perspective... and if not satisfactory, file a complaint with the Board of Realtors for them to review it.
  • Jul 23, 2006, 05:26 PM
    Fr_Chuck
    Your agent was trying to sell the house, for what ever reason you were not able to get what ever documentation you needed. While they help, it is up to you and your bank or attorney to get the documentation that is needed. If you have not gotten what you need by the end of the contract period, the seller can sell to someone else.

    You were not really clear what is not being done, was it they did not accept your offer and were making counter offers, and the such. Or was it the actual closing you could not get the doctumentation for?

    But the agent you were working with, also saw their commisison going away and had to present another buyer before another agent did . They are in business in the long run for thierself, to sell property and make money.

    Unless the agent did not do something they were suppose to do, presenting another buyer is not wrong,

    They are not your exclusive agent, they are just an agent, unless you were paying a agent a fee to work directly for you, to advice you and to give you more info to work with the company, also if the realtor is also the listing or selling agent for the home owner, they also have obligations to them also.

    So you need to explain why you didn't ot have the material needed, what material is it, was this still in the offer and acceptance, or was it for a closing.

    If they are still in the offer phase, it is allowed to have dozens of offers made, in case some fall though
  • Jul 24, 2006, 04:40 AM
    sc430blue
    We were having trouble obtaining financing. We brought in a partner and received a clear loan commitment. I told the sellers agent that we could go to closing within two weeks. The sellers agent told me to send the paperwork to him with the amendments adding the new partner and they would be glad to take our offer. I asked my agent to send the paperwork to the seller but she said she was not in a place to receive a fax (I found out that she was with the seller submitting a contract) and to have me send it directly. I sent the faxes and asked her to make sure the realtor got it. She said that she had been leaving him messages all day long (Their realtor said he was in contact with her the entire time she was down there). Their realtor could only take the offer that had its paperwork in place. Apparently he said he never received the faxes and my realtor never bothered mentioning that I had the paperwork in hand.
    I am aware of the facts that everyone has presented on the forum (thank you). My concern is about disclosure. Should she had made me aware that she was bringing someone else to make an offer. I would have requested someone else to represent my interest, especially when it came to revising my offer. If she was with the realtor to make the other offer and knew about my paperwork, shouldn't she have still represented my interests and made mention that I had the paperwork in hand?
    My other question is regarding "Time is of the essence" here in Maryland. Our paragraph states that upon going beyond contract that a written notice should be sent to cancel the contract. I never received a release form or request for my deposit back. Has anyone ever run into this that the buyer can sue for performance on the contract? I'm still waiting for my attorney to reply but I haven't been able to sleep because of this and I am antsy for answers.

    Thanks again for everyone's help.

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