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I had an offer on a property with another agent representing the seller. Our offer required mortgage commitment by a certain date. Several days before the deadline I notified the agent that we would need a few more days to obtain the commitment due to paperwork. The morning after the deadline expired I received a letter from the seller atty cancelling the offer due to the lack of a mtg commitment(I received it on a Sunday morning!) I contacted the agent who claimed that she needed to get her seller to the closing table. She claimed it would close by the end of the month. It didnt close for almost two months and the seller had gotten more money for the home.Should the listing agent have advised me that she had a back up offer and that if we did not have a commitment by the deadline they were going to cancel the deal? I have always been told that an agent is required to treat both sides of a transaction fairly.
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Fairness is relative. Is it wise to treat a fellow agent this way? no. Are there jerks out there and life is not fair? yes.She should have notified you about the back up but she does not have to. If you cannot get your contingencies in order in the time you indicated that is your and your buyer's risk and you are putting yourself at the merci of the seller. You can ask for merci but that is really all you can do. She is representing her seller and that is her major obligation, not playing nice, she is obviously doing the better thing for them.So yes, you can feel mistreated and pout but if she talks to her seller and the seller decides this is what they will do then that is it. Next time have all ducks in a row and it will not happen.
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