From: "Jeremy Thurber" 
Newsgroups: misc.invest.real-estate alt.invest.real-estate alt.real-estate-agents
Subject: Re: Is there anything wrong with this transaction?
Date: Wed, 17 Sep 2003 04:09:44 GMT

New York State does not recognize acceptance of a verbal offer as a legally
binding contract.  You cannot be prosecuted anywhere for refusing to
verbally communicate an offer...and it also shows lack of skill....as an
agent why would you ever make an offer without a signable contract...it's a
lot easier for someone to get cold feet and back out of a verbal.   The
agent DID NOT refuse to make the offer....he "suggested" that the buyer
would be wasting their time....they then agreed that it was sound advice and
ceased to continue....maybe he knew more, maybe he didn't.  This buyer
refused to hire the agent into a buyer agent relationship yet wanted him to
make an offer that was 130k under LP at the time, which he knew wouldn't be
accepted. And can any agent here blame the guy for going after the listing?
I'm not defending this agent in all of his actions...he was obviously
showing them houses beyond their price range which is obviously why they
felt they needed to make such a lowball offer.....but keep in mind that they
as buyers chose not to enter into the "Client" relationship. What they
should learn from this is to hire someone to represent them.....had they
from the start things may have gone differently....maybe not.


"Al Klein"  wrote in message
news:k8dfmvgs5abqin8t7me41f22p3is6lltm0@Pern.rk...
> On Tue, 16 Sep 2003 11:53:01 GMT, "Bubba" 
> posted in alt.invest.real-estate:
>
> >Some might think that someone who posts as Jim and signs his name Tony,
is a
> >tad crooked.  I'm pretty certain that the law in NY is not much different
> >than in FL.  Unless the offer is in writing, there is no obligation to
> >present it.
>
> The agent translates the buyer's verbal offer into a written offer to
> present.  But verbal offers presented by an agent are quite common.
> Any agent who refuses to even present an offer here is asking for
> trouble.
>
> >This is what is known as a "Wouldya Take."  Apparently the
> >agent discouraged him from writing a new offer.  It may not be the right
way
> >to have treated the buyer, but it was not illegal.
>
> In New York it's a violation of the rules and can result in loss of
> license.  It's even taught that way.  If the buyer makes a serious
> offer (even if the house burned to the ground last night, "I'll buy it
> for $10,000" isn't a serious offer in this market), the agent is
> *required* by the NYS Dept. of State, to present it to the seller.  Of
> course the buyer has to write a check first.