D
diplodochris
Guest
I live in Indiana.
My question concerns my rights when there is a dispute over the agreed upon selling price. If my realtor prepares an offer incorrectly, how is the error remedied?
here are the details.
We listed a home with a realtor at $159k. A buyer made an offer at $150k (plus asking us to pay closing costs). My realtor recommended we counter at $158k, but only pay some closing costs, which we agreed to do. He prepared an analysis of costs for countering at $158k. He then prepared the counteroffer, which I signed. In preparing the counteroffer, he inadvertantly left the amount blank, although I didn't catch this. The buyers accepted, thinking the offer price was $150k.
My realtor called yesterday to tell me what happened; apparently it was caught when they were keying in the info to a database, which was after the buyers accepted the counter offer. He said that he filed a claim with "errors and something" (didn't catch the name), and that "I would be made whole by the time of closing, or shortly thereafter". He admitted it was his fault entirely, and that I might come out ahead on all this.
I'm seeking information on the process that will occur (with the realtor's claim); is this a standard procedure, or is this something that should frighten me?
thanks!
My question concerns my rights when there is a dispute over the agreed upon selling price. If my realtor prepares an offer incorrectly, how is the error remedied?
here are the details.
We listed a home with a realtor at $159k. A buyer made an offer at $150k (plus asking us to pay closing costs). My realtor recommended we counter at $158k, but only pay some closing costs, which we agreed to do. He prepared an analysis of costs for countering at $158k. He then prepared the counteroffer, which I signed. In preparing the counteroffer, he inadvertantly left the amount blank, although I didn't catch this. The buyers accepted, thinking the offer price was $150k.
My realtor called yesterday to tell me what happened; apparently it was caught when they were keying in the info to a database, which was after the buyers accepted the counter offer. He said that he filed a claim with "errors and something" (didn't catch the name), and that "I would be made whole by the time of closing, or shortly thereafter". He admitted it was his fault entirely, and that I might come out ahead on all this.
I'm seeking information on the process that will occur (with the realtor's claim); is this a standard procedure, or is this something that should frighten me?
thanks!