Everything You Need to Know About iBuyers and the “Instant Cash Offer”Technology is changing the way we do almost everything, and real estate transactions are no exception. In fact, a new
When To Fire A Buyers Agent
When To Fire a Buyer's Agent?
We have been working with a buyer's agent for 6 months, and we actually found our dream property ourselves as it's outside of her normal working area. However, she has contacted the seller's agent for us and when we wanted to submit a written offer, she just sent an email to the other agent with our proposed purchase price and other details. We didn't sign anything, but did submit a copy of an earnest deposit. (Though also didn't sign anything related to this.) The sellers accepted our offer, though I'm guessing that they didn't sign anything either.
She continues to be evasive when we ask questions-- she was very confrontational and rude when we asked if an email was a legally binding offer, and we can't seem to find the answer to this question. She lacks attention to detail and we're just very concerned that though we love the home that we've had an accepted offer on, that she may have overlooked important information or details, and that she doesn't seem to really have our best interest at heart.
Long story short-- we have three questions:
1. When is it ok to fire an agent without any repercussions? (We did sign an exclusive buyer's agent representation form.)
2. Is an email with just basic information in it without any signatures or clauses about contingencies or other details relating to the earnest deposit a sufficient legal written offer?
3. If we backed out now that it's been accepted, would we lose our earnest $, even though we didn't sign anything?
Thank you for your help and for reading this long novel. ;)
zuser20160411082738768 (whew!) - A question most people don't want to answer. I'll give you a short answer - the relationship between a buyer and a buyer's agent must be based on trust. If you feel that trust has been breeched, it's worth having a discussion with the agent. If that does not produce the desired outcome, then it's time to move on... and it's probably best for both of you.
Most times things fall apart due to lack of communication. There are the occasional serious gaffes, yet those are really few and far between. However, once trust is gone... it's very difficult to continue working together.
If you have a Buyer Representation contract in place, you should review it... or have it reviewed. If you have a solid contract in place, understand that those contracts are with the brokerage, not an individual agent. You can always ask to speak with the broker/owner or principal and he/she may be able to settle the dispute, assign you another agent to work with, or release you from your contract.
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