We made an offer on a house this week and the sellers accepted it, but after we got the paper work back (have not signed anything yet) we noticed that our realtor did not offer what we had talked about. It was an honest mistake, but will cost us $5600+, should the realtor pay it? Or should we pull out? Or should we pay the $$.
2006-06-16 03:07:21 · 9 answers · asked by sprklng74 2 in Business & Finance ➔ Renting & Real Estate
Realtors and their employing broker carry Errors and Ommissions insurance for issues like yours. Talk to your agent about the problem and if he/she does not resolve it then speak to the Broker. If neither party is willing to correct the error then contact the state licensing department and find out who their insurance is with and file an E&O claim. To do this you will need proof of the error so hopefully you have something in writing or some e-mails between you and your Realtor agreeing that your willing to offer X and the Realtor made a mistake either honestly or otherwise.
If the agent/broker is unwilling to work with you on this issue, your best alternative may be to fire them and retain the services of another agent.
Best of luck.
Kevin
2006-06-16 06:37:47 · answer #1 · answered by Mudisfun 3 · 3⤊ 0⤋
First off, it's not a contract until both parties sign and agree to it. If it was an honest mistake, the Realtor should fix it - either by rewriting the offer or assuming the difference in cost.
One other thing - if your Realtor is not going through the full offer with you - explaining each and every point so you understand, ask them to do this. If that Realtor is unwilling to do this, or cannot explain it to you to the point that you understand everything, either see an attorney for clarification or get a different Realtor and cancel this contract. One of a Realtor's duties is to fully explain the ins and outs of a contract so the Buyer understands what they're signing.
Best of luck, and feel free to write me at trblmkr30@yahoo.com if you have any questions.
Sean
2006-06-16 03:30:31 · answer #2 · answered by trblmkr30 4 · 1⤊ 0⤋
if your realtor made an error and you want the house, let your realtor know, and if he offers to make up the difference out of his commission, or otherwise make the situation right, then forge ahead. Otherwise withdraw your offer. Choose another realtor. You can even make an offer on the same house. With a realtor who will do it right. The seller will already be motivated because of the withdrawn offer, and will probably be wiling to take the lower offer.
I had a problem with my realtor, he never let me know when the insepction was , and I specifically told him I wanted to be present for the inspection. Then I didn't even get a copy of the inspection until after closing. Turns out I need $1500.00 in AC/vent work. I just wrote a letter, telling him that my problem and that he was responisble. We negotiated and settled on $1000. ( long term I am getting the most benefit of a new system.) but there professional reputation and licensing is on the line.
real estate is a mostly word of mouth / referral business.. use that as leverage.
2006-06-16 03:43:55 · answer #3 · answered by earthling4luv 3 · 1⤊ 0⤋
The offer is a contract that you signed. It gives you the seller chance to accept and sign or refuse. Before you singed the offer, you are supposed to read it. It's like tax preparation. If you didn't catch tax preparer's mistake, you are still responsible because you signed the paper. Keeping that in mind, I guess the most the Realtor can do for you is to forfeit his/her commission. It's also up to the brokerage firms of the seller and yours. I would say you should talk to your agent and get her principal broker involved. However, at the end, you may have to pay something since you didn't catch the mistake before signing the paper.
2006-06-16 03:23:39 · answer #4 · answered by spot 5 · 1⤊ 0⤋
Contact the realtor immediately and notify them of the mistake. If they are unwilling to correct the mistake and you don't want to pay the extra money, have them contact the sellers and let them know that they made a mistake. If the sellers really want to sell their home they may be willing to meet you in the middle or find a comprimise. You definetely need to bring the mistake to the realtor's attention ASAP!
2006-06-16 03:14:10 · answer #5 · answered by rockinout 4 · 1⤊ 0⤋
the realtor has a thanks to bypass again and redo the paper paintings, there isn't any desire for a felony specialist the full element is a no brainier. this can be a case the position the realtor did no longer have you ever in thoughts as a consumer the realtor's thoughts replaced into on the fee he/she replaced into going to make. Make the agent fix the mistakes you may bypass see the broking service it really is the realtors boss.
2016-10-14 05:27:45 · answer #6 · answered by ? 4 · 0⤊ 0⤋
The offer has to be in writing (Purchase and sales Agreement in NH) and signed by both parties and dated. I always advise my clients to write the time of day beside the date. In my state a verbal agreement in Real Estate is non-binding. To be accepted the offer must have been signed by both buyer and seller. That was your opportunity to make sure the offered amount was correct. If you signed an agreement with an incorrect amount on it then you are going to have to consult a lawyer.
2006-06-16 03:17:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Shows you what you are getting for your money. most realtors only know how to fill out their companies generic sales contract, and in this case they couldn't even do that correctly.
2006-06-16 06:16:04 · answer #8 · answered by Anonymous · 0⤊ 0⤋
As long as you have not closed escrow, you can make any changes needed. I wouldn't be so sure it was an "honest mistake" unless the realtor changes it immediately. She/He may have been hoping you wouldn't notice it. "Buyer beware", as they say....
2006-06-16 03:17:33 · answer #9 · answered by tribedancing 1 · 0⤊ 0⤋