- Joined
- Sep 14, 2016
- Messages
- 42
Hey all - last week I had a deal go south on me and I am curious as to what you would do in my situation.
A bi-level home came onto the market here in Kelowna BC and I got the jump on it. Called my agent that morning and had them do up an offer for 10K over asking without viewing the property (Ask was 399, offered 410). Went above asking because it was a great unit, in a great area, that was priced to entice multiples, and they had 15 showings lined up the next day. I figured fair value for it was $430-$435 after looking at comps. Seller promptly countered at $430K. I walked away. I don't like to play games so it just wasn't worth it to me.
Next evening I get a phone call and surprise surprise they are willing to accept my offer of $410K. They did a bunch of showings but no offer was as high or as clean as mine. I was pretty happy as now the ball was in my court. I set up a showing, and after noticing some issues and knowing that I had the upper hand, I submitted a new offer at full ask ($399). The next morning to my surprise the seller countered at 415k because the seller had 15K in mortgage discharge fees - he wanted to end at $400. My agent verbally countered at $410 (my original offer) and to everyone's surprise the seller agent said that it had SOLD to another buyer the night before. Apparently, the seller sold it to his friend and the agent had no idea. Deal is dead!
Now I have very limited experience when dealing with these kinds of situations but that doesn't seem right. Are RE agents, not required to deal with an existing offer before they move on to others??
I waited another week or so and noticed that the property was still on realtor.ca so I emailed the agent (anonymously) and requested a showing. The agent said that conditions were to be removed the next day but that I should view it so I could have a counter offer ready. I asked him more details about the pending sale and he informed me that he was representing BOTH the buyer and seller on the deal so he knew the in's and out's of it and that it would be a good idea to view it. That got me right PISSED OFF!
So does that sound legal to you guys? I am looking into filing a complaint to the RE council to skewer this SOB. It was a great buy and I feel as though I got screwed.
What do you all think?
A bi-level home came onto the market here in Kelowna BC and I got the jump on it. Called my agent that morning and had them do up an offer for 10K over asking without viewing the property (Ask was 399, offered 410). Went above asking because it was a great unit, in a great area, that was priced to entice multiples, and they had 15 showings lined up the next day. I figured fair value for it was $430-$435 after looking at comps. Seller promptly countered at $430K. I walked away. I don't like to play games so it just wasn't worth it to me.
Next evening I get a phone call and surprise surprise they are willing to accept my offer of $410K. They did a bunch of showings but no offer was as high or as clean as mine. I was pretty happy as now the ball was in my court. I set up a showing, and after noticing some issues and knowing that I had the upper hand, I submitted a new offer at full ask ($399). The next morning to my surprise the seller countered at 415k because the seller had 15K in mortgage discharge fees - he wanted to end at $400. My agent verbally countered at $410 (my original offer) and to everyone's surprise the seller agent said that it had SOLD to another buyer the night before. Apparently, the seller sold it to his friend and the agent had no idea. Deal is dead!
Now I have very limited experience when dealing with these kinds of situations but that doesn't seem right. Are RE agents, not required to deal with an existing offer before they move on to others??
I waited another week or so and noticed that the property was still on realtor.ca so I emailed the agent (anonymously) and requested a showing. The agent said that conditions were to be removed the next day but that I should view it so I could have a counter offer ready. I asked him more details about the pending sale and he informed me that he was representing BOTH the buyer and seller on the deal so he knew the in's and out's of it and that it would be a good idea to view it. That got me right PISSED OFF!
So does that sound legal to you guys? I am looking into filing a complaint to the RE council to skewer this SOB. It was a great buy and I feel as though I got screwed.
What do you all think?