Offers and Agent ethics

[Cheeko]

Ok here is the story:

Saw a house, really good deal underpriced. We made a written offer through another agent in the same company selling the house. Offer was presented with only an hour before the offer expired. I beleive the agent intentionally delayed presentation because he had an offer coming in from someone through him. If the other guy gets the house he gets all 6%. If I get it 3% goes to our agent and 3% goes to seller agent. After threatening the company they buckeld down and sold to use at the asking price now. The company is still doddling with last minute adjustments like moving up the closure date. Bank and lawyers needs to know dates to prepare documents. As far as ethics and overall service I am quite diaspointed. What can I do? What can I do if the deal gets blown because of the both our agent and the seller agent screw the deal?

The seller told me they want to and can move the date up to June4, I want to. Problem is my agent and theirs are doddling. The current real estate documents still say June 29th. Extremely upset over ****ty service and worried about lossing the house. Help

This is in Ontario Canada, who do I see to complain. I did speak to the head of the company and he blew me off in saying "you are welcome to lodge a complaint or do what you feel you have to" The head guy is also stuck in a hard place because he doesn't wan't trouble between his two agents. I though the custommer was the mportant person.

 

[HomeGuru]

Sorry, I do not know the applicable real estate laws in Canada.

 

[Cheeko]

Agent ethics

Humour me, how would the laws and regulations in the US handle the situation.

 

[HomeGuru]

In the US, one party would file a complaint and the Defendant would file a counter-claim and file a motion to compel binding arbitration. Then both attorney's would enter into discovery and file interrogatories and production of documents. Then depositions would be taken. After 6-9 months of all the legal BS, the parties go to court. In court the judge calls the legal counselors to chambers and then tells the parties to go out into the halls and negotiate to settle this. Nothing gets settled and the judge sets the matter for a pre-trial conference on the court calendar 3 months from the date. The parties go home and the following week, the parties get their attorney's invoices totalling $25K and $49k respectively. Then both parties sue their own attorney for excessive legal fees. Two years later nothing is settled and the parties are broke. The case is then dismissed due to no action.

 

[LegalBeagle]

Funny.. but true..

 

[HomeGuru]

Thank you LB and good to hear from you. Join the Real Estate Law board and post anytime. Can you take over when I go on vacation?

 

[LegalBeagle]

Thank you LB and good to hear from you. Join the Real Estate Law board and post anytime. Can you take over when I go on vacation?

Doubtful.. my knowledge on RE is akin to tax laws.. I can answer basic stuff only. When are you going and for how long? We have missed you on the other boards!!

 

[HomeGuru]

Will do a new post.