Making an offer & counter offering?

Question

We've made an offer on a house in FL. Everything was written up and we submitted our pre-approval letter. The listing agent came back and asked for the amount we qualified for. We weren't comfortable "showing our hand" but went ahead and submitted the info regardless... only to find out she then turned around and verified the amount with our lender. The counter offer was made verbally (I wanted it in writing) but our agent seems to think it's normal for all counter offers to be made verbally. We submitted our final offer and I felt we should have it in writing... our agent again talked my boyfriend into just going ahead with verbal. Is this normal? This is our first home and I like to see things in writing so I am sure of what I'm agreeing to.

Additional Details

We did get the disclosure.

Also, we received the counter offer verbally and my boyfriend resubmitted another verbally. I just don't feel right about it but keep getting told "this is completely normal for counters"

Why are these answers being rated poorly? They're helpful and have helped me to believe my intuition. Thank you!

Answer 1

Best Answer - Chosen by Asker

You are correct - the counter offer MUST be in writing. Everything should be in writing to protect you, the seller and the Realtors.
Do you have a Realtor you are working with or are you dealing directly with the listing agent.
This agent and yours sounds incompetent or unethical or both.

If you have not signed buyer agency with your own agent, let them know you will be working with someone else. Go to a reputable brokerage and work with an agent who has the ABR (Accredited Buyer's Representative) designation.
As a first time buyer you need guidance. This is a major investment and it needs to go smoothly and correctly for you.
You can submit your pre approval letter with your offer. That is common so that the seller is comfortable that you can complete the purchase.

Source(s):

Realtor

Asker's Rating:

Asker's Comment:

Thanks for your help

Answer 2

You are very smart to have a problem with that. Nothing in real estate should be done verbally. There's no way to hold anyone to a verbal agreement. I would insist that the agent make the offer in writing.

Source(s):

Mortgage lender

Answer 3

In order for you to get your loan, it must be in writing... no bank is going to give you a loan for an amount higher than the contract just by someone saying it was a verbal agreement. This is what addendums are for. A good lender will force it to be in writing, you might want to consider a different agent... they are either mis-informed or making some behind the scenes deal with the selling agent....

Answer 4

the listing agent is acting on behalf of the sellers best interest. the more money the agent can get for the property, the more commission they get. at this point, i would walk from the contract. find yourself an attorney to handle the purchase on your behalf, it will probably cost you between 3-500 dollars, but the attorney will protect your interests, not the sellers.