Should a verbal agreement paralell a Purchase & Sale Agreement? My answer is "yes", however Stefan Karnopp and Black Bear Realty beleive the answer is "No".
After verbal negotiations, Stefan Karnopp of Black Bear Realty and myself, (for sale by owner)
agreed upon the price of $210,000 for the sale of my home. The negotiations that took place occured verbally over the phone. I signed the P&S in Mr. Karnopps office and specifically asked him if there was anything I should know about in the document. His answer was "no, this is all very standard". Sadly, what he failed to mention was that I was to cover the buyers closing costs up to $5000.00. He took great time to cover the first page of the agreement with me directed me where to sign.
Had Mr. Karnopp made this part of the verbal negotiations, the offer would have been turned down. The verbal agreement should paralell the written document. I must accept responsibility for not reading the document in its entirety however there was nothing that led me to believe that my $210,000 was actually $205,000.
My husband and I did take this up with the owner of Black Bear Realty, Paul Mayer. Apparently he believes that his brokers misrepresentation of the offer is a valid business practice. Since when does $210,000 equal $205,000??
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