Thread: Question

Yikes, that is a tough one. Did you not notice the wrong purchase price when you were signing the docs? Are all of the documents signed by all parties? Most of the time banks will send back their "counter offer" or bank addendums unsigned.

If this is the case, you don't have a contract.

That is one of the major problems. The listing agent requested the offers after the initial to be submitted via email. I have our emailed offer along with his confirmation but not sure that is worth much...

Sorry I am a little confused. Is your agent the listing agent or do you have a separate buyer agent? If I understand what you are saying, you submitted the correct offer amount but when the listing agent presented it to the bank they submitted it with your name but 9K over what you offered.
Also, did you submit a contract via email or just an email stating "our new offer is $XXX"?

I think you are going to be fine. What is the listing agent saying?

You are understanding correctly. We do have a buyer agent. The listing agent isnt saying much at all, other than "sorry, I messed up" and "I will contact the bank to let them know, expect another counter offer". I understand that people make mistakes, but this is crazy.

At this point I am not sure if the bank even knows about this error.

If you have signed any paperwork, and there is a price on the paperwork, then that is the first place to start. Because if you signed paperwork with the 9k higher price, then you may have a hard time negotiating that price down.

On the other hand, if you e-mailed an offer with the lower price, and that is the only thing you provided, then you certainly have grounds to try to negotiate. I would probably start by collecting all the e-mails (print them out) and paperwork that you have and organize it to figure out exactly when and how the price got changed.

Depending on what stage you at in your contract, you may have the possibility of getting out of it if you want, or it may be that you really want the house and need to try to convince the seller to lower the price. It all depends on what direction you want to try to go.

Thanks for the help! We have not signed anything other than the initial offer which we knew would get countered. The bank sent us their purchase agreement with the incorrect price, but we caught the error. That is when we found out the listing agent made the mistake and presented the bank with the wrong offer. This whole thing has been a mess!

My real estate attorney says the listing agents company should pay the 9k because it was their mistake. I am not sure I would like the house if I had to go through that much trouble to get it though.

Major problem problem on that one, what you can do is to appeal and see if your Realtor and you can make a certain arrangements or deal that can waiver change the offer. 9k is big so you better step up no that one.