Does agent have to come back to me after I put in an offer?

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Does agent have to come back to me after I put in an offer?

I put an offer on house and was told I would have to wait a week as seller wanted to have a couple of open days. I said yes and waited. I have been trying to contact agent and today, 5 days after waiting a week he emails me with sorry it has been sold to higher bidder and terms seller wanted. I was happy to put a further offer in.

Asked on May 2, 2019 under Real Estate Law, Alaska

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

The fact is that absent an agreement to the contrary, an agent works for the seller not the buyer. Accordingly, this agent was under no obligation to come back and allow you the chance to submit another and higher offer. Also, neither was the seller required to give you a chance to re-bid. They were free to accept whatever offer they saw fit.

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

No, the agent is not obligated to come back to you and give you a chance to put in a higher offer. Certainly he could, if the seller wanted him to--but the point is, the agent works for the seller, not you. The seller is not required to give you a chance to re-bid and is free to take a different or another offer without giving you any additional chance to buy the home. The agent can only do what the seller, his client, wants him to do.


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