Misrepresentation of a Buyer

[Wayne Griggs]

What are the steps necessary for conducting an investigation concerning misrepresentation of a buyer? The Buyer feels as tho a valid and generous offer on a residence was not given. Are there any S.O.P. regarding this issue?


I look forward to hearing your responses

[timleffler]

I appear to be a little late...

1st Everything you request when it comes to challenging a deal must go through the brokers (if you’re the licensed broker then your it.) Just don't put yourself in a situation where you’re challenging a deal to a Broker on your own.

2nd Make sure all of your i's are dotted and your t's are crossed. Every state is different in the transaction process but everything revolves around "time is of the essence" and documentation.

I don't know the situation but what typically happens is you make an offer on a property, the listing agent (LA for short) presents to the seller. When you made the offer you probably had a deadline for a response, you also probably had some contingencies written in the offer.

The seller and the LA make a decision to decline and counter, decline or no response. This is where you and the LA get on the phone and try to find common ground. You take that info back to your buyer and you accept, decline and counter, decline or no response.

If your buyer feels their offer was strong and does not feel the seller gave it due consideration you can request to present when you counter back with the original offer. Most cases this is a very scripted exchange where you get to sit in a room with your broker, the LA broker, the LA and the seller. Just to hear the seller say, "We already spoke about this I want XYZ why are you bringing me the same offer and wasting my time?"

Its pointless for a buyer to try to strong arm a seller, this scenario should only occur if you truly feel the LA is not doing his or her job.

I hope this helps

[ResaleBroker]

Great Question! This actually happens more than you might think. The solution is actually very simple. Always have the seller decline in writing! Always!