Results 1 to 6 of 6
  1. #1
    Join Date
    Oct 2006
    Location
    Michigan
    Posts
    4

    Question More offers taken...

    After finding a house in Michigan both my friend and I liked we placed an offer on the house on Friday. The selling realator refused to show our offer to the sellers till Sunday after their open house. The offer was shown to them sunday night along with 3 others obtained at the open house. They came back on all four offers with a counter offer and the terms were to be met by close of business on Monday. My friend and I were the only offer of the four that followed thru with the counter offer and signed the new paperwork at noon on Monday. Tusday durring the day my realator called and told me we did not get the house. The selling realator had taken our offer and went to another office and placed an offer matching ours plus $100 more for another family that was not part of the original four. Then showed their offer to the sellers, who accepted it. She did this so she could keep the selling and buying commision. The excuse we were given was that our mortgage comapany was not as well known as theirs, even though we had a pre-approval letter. After our realator complained about this to the management of the Real Estate company both realtors worked for, the selling realtor had to take her selling commision and donate it to a charity. I still feel my friend and I were jipped out of our house. Is there anything we could of done or can do?

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: More offers taken...

    Was your response to the counter-offer an acceptance of that counter offer?

    I cannot remember if there is a time limit on tendering an offer to a seller but I believe there is and it seems like it is 24 hours. Not sure at all of that just something that sticks in my mind. It may be on the contract itself.


    If you did accept the counter offer without any changes, you did have a contract to buy the home. What the other Realtor(?) did was unethical and possibly illegal. If they are a Realtor®, I would report them to the Realtors Association as well as the licensing agency in Michigan.

    If you want to persue the house, you may still have a chance to sue for specific performance.You would have a hard time suing the agent for anything since you have not been injured. (generally although there are some situations that would be different)

    How long ago did all this happen? Did the subsequent contract already close?

  3. #3
    Join Date
    Oct 2006
    Location
    Michigan
    Posts
    4

    Default Re: More offers taken...

    Yes we actually accepted the counter offer and increased it, to make sure we would get the house.

    I checked the contracts and it does not say anything about the length of time they have to show the offer.

    This all happened in late august early september, and they have already closed on the other house. The real kicker is that the mortgage company that they got their pre approval from ended up denying them and they went through the mortgage company that we had, the one they said was not known well enough, wich was their main excuse with us.

    All parties involved thru the realty agency were Realtor®'s. We just thought this was a horrible thing for this realtor to do, and were extremely dissapointed.

  4. #4
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: More offers taken...

    Quote Quoting CAB
    View Post
    Yes we actually accepted the counter offer and increased it, to make sure we would get the house.

    .
    You cannot accept an offer and raise it both.

    If you accepted the counter as written, it was a locked deal. There would have been a contract at that point. By raising it, it become a counter to a counter so the seller had the opportunity to review and accept or deny.

    If you had simply accepted the counter without any changes, you would have had legal rights to force the sale to you. Even as it is I feel the Realtors® were dishonest. I would at least file a complaint with the board of Realtors® if it will make you feel better.

  5. #5
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: More offers taken...

    I know they're protective of their trademark, but do you think they would object to us calling them ®ealtors?

  6. #6
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: More offers taken...

    Quote Quoting aaron
    View Post
    I know they're protective of their trademark, but do you think they would object to us calling them ®ealtors?
    I like it!

    1. Sponsored Links
       

Similar Threads

  1. Property Division: Property Issues and Offers from My Ex
    By Hityty22 in forum Divorce, Annulment and Separation
    Replies: 3
    Last Post: 09-03-2010, 12:48 AM
  2. Online Services: Next of Kin Email Offers
    By daweas007 in forum Consumer Law
    Replies: 68
    Last Post: 08-14-2010, 06:31 PM
  3. Co-Ownership: Ex Refuses all Offers
    By gkafka in forum Real Estate Ownership and Title
    Replies: 1
    Last Post: 04-28-2006, 08:53 AM
  4. Background Checks: Detrimental Reliance and Job Offers
    By rex511 in forum Employment and Labor
    Replies: 1
    Last Post: 03-09-2006, 10:24 AM
  5. Debt Collectors: Magazine Offers
    By aelover77 in forum Debts and Collections
    Replies: 1
    Last Post: 10-06-2005, 10:47 AM
 
 
Sponsored Links

Legal Help, Information and Resources