Buyer's RE Agent forcing us to sell our house at a ridiculously low price

[Zoe]

Let me go one step further. Your agent likely does not have a copy of the appraisal if one was performed. The buyer's agent does likely know things about the appraisal that your agent does not know.

Am I making sense?

The local association of realtors know what the contract says and they have authority over the agents. National Association of Realtors is likely their boss (NAR).

 

[Elliott]

OG,
Why don't you list the 'big issues' with the dollar amounts and I'm sure we'd be more than happy to give you our opinion if they are significant or not. That's where our 'experience' is.

My son had a sale fail because the buyer found out the HOA wouldn't allow parking an RV in the neighborhood. Nothing he could do other than paying for storage for a few years, but the buyer wanted it in the driveway, so it failed.

 

[Zoe]

yeah, if you don't want to do it with this agent and cancel the contract, just go to local association of realtors and ask the contract be cancelled. You won't owe them if the agent withdraws the agreement with you.

NAR likes to solve things internally with licensed brokers.

Public trust is big with NAR.

 

[Zoe]

NAR likes arbitration. Look that term up. NAR will not like you or any licensed agent not be happy on arbitration.

Arbitration - Definition, Examples, Cases, and Processes

Arbitration Defined and Explained with Examples. Arbitration is an Alternative Dispute Resolution in which the parties work out an agreement with no trial.

legaldictionary.net

 

[Fernando]

NAR likes arbitration. Look that term up. NAR will not like you or any licensed agent not be happy on arbitration.

Arbitration - Definition, Examples, Cases, and Processes

Arbitration Defined and Explained with Examples. Arbitration is an Alternative Dispute Resolution in which the parties work out an agreement with no trial.

legaldictionary.net

Arbitration takes long time and seller doesn't have the time.
Buyer probably knows Seller is in a bind and need to concede to their demands.

 

[Fernando]

Most here do for this simple reason: A good attorney once told me that the real negotiations for the sale don't end with the signed purchase contract, they begin with the inspections. Exactly what's happening here.

The OP needs a good attorney, NOW.



The best advice you're received so far is... GET AN ATTORNEY.

Attorney costs too much. Consider the cost if it's worth it than to renegotiate with buyers.

 

[Fernando]

Your agent is the best one to help you. They have lawyers. Either that or you need to hire your own lawyer. Your agent will know a lawyer.

Agent basically fills out the NAR approved form.
Once clauses are put in (normally suppose to be done legally consulted with attorney if done correctly), there could be consequences on the changes.

 

[Zoe]

Agent basically fills out the NAR approved form.
Once clauses are put in (normally suppose to be done legally consulted with attorney if done correctly), there could be consequences on the changes.

I am not denying that but NAR is ultimate source on agreements between public and agents. I am trying to give the seller an option besides going to hire a lawyer. NAR has plenty of lawyers. NAR will discipline the local association board if they don't get it right either.

I was thinking presenting the facts to local association of realtors might be better option than hiring a lawyer.

I don't think either real estate broker or agent wants to face NAR if they can avoid it. (buyer and seller agent and/or broker)

Arbitration.

 

[Fernando]

I am not denying that but NAR is ultimate source on agreements between public and agents. I am trying to give the seller an option besides going to hire a lawyer. NAR has plenty of lawyers. NAR will discipline the local association board if they don't get it right either.

I was thinking presenting the facts to local association of realtors might be better option than hiring a lawyer.

I don't think either real estate broker or agent wants to face NAR if they can avoid it. (buyer and seller agent and/or broker)

Seller doesn't have time to go to arbitration. Seller needs faster way to settle and close.

 

[Zoe]

Seller doesn't have time to go to arbitration. Seller needs faster way to settle and close.

seller would probably have one interview. They would be done. Maybe a couple of hours. Call and set the appt with association of realtors and let the selling agent and buyer's agent know their intentions if they can't settle.

I imagine the interview would take about an hour. Maybe not that long.