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There Were Other Bids |
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We have been working with our agent for 3 weeks now, going back and forth with the listing agent on price for a home we would like to buy. It is still under construction. We met with both agents and the builder to discuss price, etc. Owner/builder has been firm on price so we put in a bit, a bit below his price to leave room for negotiation. We put the bid in writing, we are pre approved and have a 20% down payment. The very day we put the bid in, our agent came back and said sellers agent said sorry, but they have an offer at asking price so we are out of luck. They have never indicated to us that anyone else was even looking at the house besides us. Is this normal? |
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If your agent knew, he or she should have told you. But the seller need not tell you about other prospects, and the builder's agent has a legal duty to keep the builder's business confidential. Sorry about that. |
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Edith
Originally published on April 11, 2008 |
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