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How can you help me sell my FSBO property?  What have you got for me?  |
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Diana's Answer...
Dear Lisa,
You need to know exactly what happened and where the bid was dropped, and why. Are you sure your agent sent in the bid? Are you sure the listing agent ever got the bid? Faxes and e-mails can get lost. Where was the paper the last time anyone saw it? Once you get the facts they you can look at your options.
The answer to what you can do then depends on the laws of the state and local regulations of the real estate agent, and who you believe was at fault. You may want to contact a local real estate attorney for more information.
If you believe your agent made an error, and you have signed a with this real estate professional, you need to look at the contract. It should have a clause that addresses the issue of presenting each offer. In cases of a violation of a written contract, you would be able to file suit against the real estate agent for a breach of contract.
If you believe that one of the real estate agents made the error you may want to formally report the agent to the professional organization they belong to, or go after their license by reporting them to the state authority that issues licenses.
Most of us you have bought property have been in similar situations where the circumstances totally worked against us. These situations are unfair and maddening. The question you need to ask yourself is how much time and money you want to invest, not in property, but in going after someone for what may be just a simple mistake. Even if your state law allows it, litigation is expensive and you probably will not get what you want, even if you take all parties into court. Most courts will not force the successful bidder to the property to step aside and let you have the property. You may want to find out what you need to do to make sure that all of your bids are properly submitted for next time; and rack this one up as just a learning experience .
Diana
Please note that the information that you obtain on Ask A Lawyer or in email replies to questions is not, nor is it intended to be, legal advice or an indication of an attorney-client relationship between the reader and the lawyer who provides the answers. Be warned that laws differ from state to state and no one answer can cover all states. For information specific to your geographic location, please contact a local attorney.
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