BAD NEWS.....

You never know this one may come back around again and if not that's okay because there are many others out there. Yes, it can be disppointing but sometimes things happen for a reason and the key here is that the next deal you will make sure the real estate agent has all the bases covered. As long as you learn from an experience, the knowledge sometimes can be worth more than the deal.

Also, in the future you may be able to lock up a deal worth even more, say one over $100k in potential profit. Thus, it it better to learn today and get the plan finalized now rather than have something like this happen to the bigger deal that is coming your way in the future. Good luck with real estate investing. Believe and Achieve! - Joe

I am sorry that this happened to you. It is not fair but I guess we all hit these brick walls sometimes. I know this has been a difficult learning experience for you especially since you trusted the agent. Maybe in the future you can ask to see the signature of the owner?

I wish you the best in your next deal(s.)

Lea
SPR Property Solutions, LLC

thanks guys.

just kinda threw me off. i was soo pumped in the first time around and was doing alot of research and was scared bcause i was making things hapen and reallyhad no idea what i was doing.lol. but it seemed to be going my way, when we recieved the call, kinda rained on my parade.

thanks for the encouragement. it helps alot. since then ive been researching alot of houses and hopefully that 100k house will show it self.

thanks again guys.

-Larry

Sorry to hear about your deal not going through, but don't be discouraged. There are a hundred more properties out there. Not so sure about your realtor though. Sounds kind of fishy to me. Once he or she told you the deal was good to go, escrow should have been opened immediately. Kind of sounds like the agent may have known about this offer on the side, and then waited a day or two to present both offers, knowing very well that the owner would take the higher offer. What ever the case, keep your head up. September 15th is rolling around (moratorium lifts) and our area will see a bunch of foreclosures. Deals are right around the corner!

KimmyJ
Press on...

Dont get disscourage the same exact thing happen to me.
But just keep making offers.

AND get a new Realtor that knows what they are doing. I agree with Kimmy. Sounds kind of fishy. The Realtor should know that once an offer is accepted it has to be signed. A verbal offer is not binding in real estate. Either the Realtor does not know that or knew about the offer....either way..needs to be replaced. Go find your Star!

I agree with Determined77, get a realtor who is on the up and up and who knows what they're doing. That way the realtor's error won't cost you any deals. Once you start closing sales that realtor will really work even harder for you. Go get that next deal and I wish you much success.

If you had the House locked up on a contract and the Seller wanted to raise the price after you locked it up because they received a higher offer and your agent didn't dispute it,the Seller and your agent may be in breech of contract.You may want to discuss this with a real estate attorney,when you lock up a property on contract it suppose to be binding,and you may have a right to sue for non performance of the contract??,but you would need to check with an attorney to make sure.If this agent was your agent,I would look for another agent that would have your best interest at hand.

whurndon

H&H PROPERTY SOLUTIONS LLC

advise! whenever you get a deal lock up under contract with all the appropriate signatures. Don't go back and change the contract unless there is a material defect with the property. The real estate agent should of know that. Lesson learned move on and find the next deal.