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Started By
Message
Real Estate negotiation question
Posted on 2/7/14 at 10:14 am
Posted on 2/7/14 at 10:14 am
I'm hoping someone can help me understand something.
If I am in contract with a seller, can a sellers agent disclose to a "back-up" my negotiations with the sellers on repairs?
I think the "back-up" was BS. Because the "back-up" suddenly came in at the very end of our back and forth. My question was "where has the back up been the whole time?"
Why would he not let the back-up come up with there own estimation of repairs and negotiate if my deal fell through?
I feel like the sellers agent acted in an irregular manner.
Does someone know the rules/ethics/laws of the situation?
Thanks
ETA: This is in Houston
If I am in contract with a seller, can a sellers agent disclose to a "back-up" my negotiations with the sellers on repairs?
I think the "back-up" was BS. Because the "back-up" suddenly came in at the very end of our back and forth. My question was "where has the back up been the whole time?"
Why would he not let the back-up come up with there own estimation of repairs and negotiate if my deal fell through?
I feel like the sellers agent acted in an irregular manner.
Does someone know the rules/ethics/laws of the situation?
Thanks
ETA: This is in Houston
This post was edited on 2/7/14 at 10:16 am
3
Posted on 2/7/14 at 10:23 am to Bob Sacamano
deleted.
misunderstood question.
misunderstood question.
This post was edited on 2/7/14 at 10:37 am
Posted on 2/7/14 at 10:24 am to Bob Sacamano
At the very least it is unethical. In Louisiana, you cannot release any information about negotiations until after closing.
Posted on 2/7/14 at 10:26 am to Bob Sacamano
The seller's agent does have to disclose to buyer when they are in backup position, but does not have to disclose there is a backup offer to you in lead position.
Every agent loves and fights for backup offers for their sellers because it gives their client leverage in the inspection period. But the details ($) shouldn't be made known to backup agent
If you feel there is no backup, have your agents managing broker call agents managing broker and tell them you want them to confirm there is a backup.
Every agent loves and fights for backup offers for their sellers because it gives their client leverage in the inspection period. But the details ($) shouldn't be made known to backup agent
If you feel there is no backup, have your agents managing broker call agents managing broker and tell them you want them to confirm there is a backup.
This post was edited on 2/7/14 at 10:28 am
Posted on 2/7/14 at 10:27 am to lsubandmom
He clearly stated to my agent that the "back-up" would do less on the repairs than I would. He had to disclose what we were negotiating.
This post was edited on 2/7/14 at 10:28 am
Posted on 2/7/14 at 10:29 am to Bob Sacamano
quote:
He clearly stated to my agent that the "back-up" would do less on the repairs than I would. He had to disclose what were negotiating.
Yeah, I'd put his managing broker on notice.
Did he say "would" or "we feel they would". Big difference
This post was edited on 2/7/14 at 10:31 am
Posted on 2/7/14 at 10:29 am to ItNeverRains
quote:
But the details ($) shouldn't be made known to backup agent
This was done based on what he said to my agent.
Posted on 2/7/14 at 10:32 am to ItNeverRains
WOULD. Thats why I went ape shite.
Posted on 2/7/14 at 10:33 am to Bob Sacamano
quote:
This was done based on what he said to my agent.
Have your agent ask him to put that in an email so he can show it to his client.
If it's as you stated, I believe you regain the leverage in the negotiations
Posted on 2/7/14 at 10:34 am to ItNeverRains
I will do that.
Thanks!!
Thanks!!
Posted on 2/7/14 at 10:42 am to Bob Sacamano
No problem. How long is the inspection resolution period and what day are you in?
Posted on 2/7/14 at 10:45 am to ItNeverRains
It's over. I accepted but told my agent that I was looking into this.
It was ugly.
It was ugly.
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