Can an agent change the list price (or establish an overbid of less than 5%) on a bankruptcy sale once we are in escrow?greenspun.com : LUSENET : Coldwell Banker : One Thread
We are currently in escrow on a house listed at $399. We overbid the list price. This is a bankruptcy court case and will be subject to overbid. However, we were given direction that the overbid must be a significant amount, at least 5 to 10%. The listing agent has just changed the list price and established a minimum overbid of 1.7%. Is this just our tough luck? Also, she failed to notify us of any of this until we found the info. on the listing and called her on it. According to our "Counter Offer Agreement" it is her responsiblity to "send written notice of the time, place,and procedure for overbids and the Approval hearing dates"; however, we received the information only after calling to demand it and found it was dated four days previous! What is our recourse? We are spending money on doing due diligence/inspections but we feel we are destined to get screwed by a dishonest seller's agent who is keeping us in the dark.
-- Melissa Booker (Merkelinc@aol.com), June 13, 2000