Can realtor commit elder abuse?

UPDATED: Oct 1, 2022

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Can realtor commit elder abuse?

We bid on a property that was owned by an 90
plus year old lady. Her brother is the power of
attorney and he is 88. We were told there was
a cash bid with no contingency but it was lower
than asking price. We were told we would have
to pay cash, add no contingency and pay
asking price. We countered what they
requested. Full price, no contingency and cash.
We were told we would have to go to the real
estate office several miles away to sign papers.
We went. As soon as the realtor came into the
building we started into the office to sign
papers and she got a text saying that the
brother/the power of attorney had signed with
the lower bid. How can that happen? Is the
realtor bond to assist the owner to get the best
possible price? I thought the next thing that had
to happen was for the other party to place
higher bid?

Asked on April 11, 2018 under Real Estate Law, Georgia


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

There is no obligation on a seller to take the highest bid or best price, and a seller may opt to take a lower bid for any of several reasons, including cash vs. mortgage, better closing date, lack of contingencies, or even simply liking one buyer more than another. The seller, or in this case, the brother with the POA, can sell to whomever they want, and the realtor cannot control their choice.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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