Q: Dream house sold out from under us!
Yesterday we finally found "The House". We knew it would move fast so we immediately made an offer at 11:00 am for 95% of list price. The listing agent had a showing scheduled for 1:00 pm. Knowing that, we increased our offer to 100% list price. She waited to present our offer until after her showing, and then presented both offers together. Her buyer offered just over list price and the seller accepted theirs. We were never given a chance to increase our offer (which we would have). I don't know if anything unethical or illegal happened, but it is extremely frustrating. Our realtor missed out on her commission, the listing realtor gets a full 7% comm. and the seller could have gotten more. Not to mention the fact that we made first contact and were shut out. (we are pre-approved) Is there anything we can do? Or do we just move on?
A: Just move on unless there was a written and signed agreement that you'd get an opportunity to outbid the other buyer.
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