Oh, I remember this scene like it was yesterday. There I was, standing in the pouring rain, squeezed under an eave with my back flat against the wall to stay somewhat dry. Although, I was also splattered with mud, pretty much head to foot, due to riding ATVs in the rain and mud of Hilo. Trying to talk on my cellphone to a disgruntled agent in my company about why a listing that was on the verge of canceling was no longer canceling.
In what seemed to me like an attempt to strong-arm, the agent had insisted his client, a lawyer (like who cares?) had told him the sellers could cancel the transaction and sell to him instead for $5,000 more.
First, the buyers had signed the cancellation, delivered it, and then withdrew it. There was no meeting of the minds. The sellers had not yet signed the cancellation. If they had attempted at that particular juncture, a judge would most likely see things very differently. Real estate is not as black and white as some less informed agents like to believe. Sellers cannot really capitalize on buyer mistakes. That told me the agent's client was not a real estate lawyer and, if he was, he wasn't necessarily competent at his profession.
On top of all this, the sellers did not want an additional $5K nor the hassle that could ensue. At the end of the day, I take my direction from the sellers. You can read more about this in my personal blog today at this link: Successor Trustee Sellers Thrilled They Picked the Right Agent.
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