Dual Agency Situation: Advice Requested
- Thread starter orgopeach_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
Xsocal - I have a question. And I expect you to be honest with the answer, no matter how brutal the answer may be.
Let's pretend we have been talking about a '67 Camaro that you have and we have figured out that it would go for $15,000 at auction.
Let's say I offer you $15,000, you accept and we "shake" on the deal.
I do not have the money on me, and tell you I will go to the bank in the morning to get you the money.
Overnight I realize that the '67 Camaro has a six cylinder in it that I did not ask about, and I do not think it is worth $15,000.
What do you think I will do?
Actually, I was thinking I would go to the bank, pay you, and take you to breakfast.
My take is that my failure to ask pertainent questions and obtain desired information is my own responsibility.
And just about everything in the world is relative except for my word.
I think I am realizing it is very difficult to ascertain character from a blog.
I'll say.
awgee_IHB
New member
xsocal land merchant said:
Xsocal - I have a question. And I expect you to be honest with the answer, no matter how brutal the answer may be.
Let's pretend we have been talking about a '67 Camaro that you have and we have figured out that it would go for $15,000 at auction.
Let's say I offer you $15,000, you accept and we "shake" on the deal.
I do not have the money on me, and tell you I will go to the bank in the morning to get you the money.
Overnight I realize that the '67 Camaro has a six cylinder in it that I did not ask about, and I do not think it is worth $15,000.
What do you think I will do?
xsocal land merchant_IHB
New member
awgee
Long time-no chat. I hope all is well with you and your family.
From your posts here I would say the following:
1. You would have done your research and not have made such a mistake due to your diligence.
2. You would pay in gold and our main negotiation would be as to the dollar per oz price to be agreed upon. ;-)
3. You would have the right to change your mind based on the new information about the power plant since it materially affects the value. That is much like the negotiation after a buyer does the inspection and finds items that need to be corrected on a home.
How was that for a PC answer?
Enjoy and have a great day.
Long time-no chat. I hope all is well with you and your family.
From your posts here I would say the following:
1. You would have done your research and not have made such a mistake due to your diligence.
2. You would pay in gold and our main negotiation would be as to the dollar per oz price to be agreed upon. ;-)
3. You would have the right to change your mind based on the new information about the power plant since it materially affects the value. That is much like the negotiation after a buyer does the inspection and finds items that need to be corrected on a home.
How was that for a PC answer?
Enjoy and have a great day.
awgee_IHB
New member
xsocal land merchant said:
Actually, I was thinking I would go to the bank, pay you, and take you to breakfast.
My take is that my failure to ask pertainent questions and obtain desired information is my own responsibility.
And just about everything in the world is relative except for my word.
I think I am realizing it is very difficult to ascertain character from a blog.
no_vaseline_IHB
New member
awgee said:
I'll say.
xsocal land merchant_IHB
New member
awgee
Actually I do believe you would be a person with whom one could do a "handshake deal" and you would be a man of your word.
If I had not fully explained the features and benifits of the car then I would feel responsible enough to not expect you to complete the purchase.
Full disclosure and a win-win transaction were my goals. Can I say that they were always reached? No, often due to various communication problems and or the other person not coming from the same point of view.
A home purchase or sale should leave a good feeling on both ends since the people living in it will have memories and karma established from the beginning. The same goes for a fun toy car such as said Camero.
That being said there were people that I did not work with because I did not care for their attitudes. Luckily I had that option. I had a saying that goes: "Sometimes the best deal is the one you don't make".
Again I am glad that I no longer am involved in real estate at any level other than maneging my own rental properties. Currently I am neither a buyer or seller so that makes me a spectator of sorts. That is much more enjoyable.
Enjoy
Actually I do believe you would be a person with whom one could do a "handshake deal" and you would be a man of your word.
If I had not fully explained the features and benifits of the car then I would feel responsible enough to not expect you to complete the purchase.
Full disclosure and a win-win transaction were my goals. Can I say that they were always reached? No, often due to various communication problems and or the other person not coming from the same point of view.
A home purchase or sale should leave a good feeling on both ends since the people living in it will have memories and karma established from the beginning. The same goes for a fun toy car such as said Camero.
That being said there were people that I did not work with because I did not care for their attitudes. Luckily I had that option. I had a saying that goes: "Sometimes the best deal is the one you don't make".
Again I am glad that I no longer am involved in real estate at any level other than maneging my own rental properties. Currently I am neither a buyer or seller so that makes me a spectator of sorts. That is much more enjoyable.
Enjoy
usctrojanman29_IHB
New member
If I had to pick one...they can get emotionally attached to a home (this will cause them to overpay on the buyside and list their property at too high of a price).awgee said: