Possible Bad Faith Negotiation by Buying Agent?

Homeseller Forum
1

I’m seeking some advice on a situation I’ve encountered as a home seller. Here’s the full story:

My real estate agent has been negotiating with a buying agent representing Buyer A. Buyer A’s financial situation seemed quite constrained from the start. They requested a $9K closing credit and claimed to be maxed out at $XYZ, which is $20K below our current list price. My agent, trying to make the deal work, coordinated with another lender who approved Buyer A for $XYZ + $4K.

I was initially contemplating accepting this offer, even though it’s below our list price. However, after only two weeks on the market, our home is still relatively fresh.

Here’s where things got strange: when the official counter offer came through, I noticed that the buyer’s name had changed from Buyer A to Buyer B. It turns out that Buyer B is a completely different client and doesn’t seem to have the same financial limitations as Buyer A.

This leads me to wonder: Is the buying agent acting in bad faith? Shouldn’t they have been upfront about this? I’d appreciate any insights or advice from this community. Is this typical practice, or should I be concerned? Can I/should I report the buying agent? Thanks for reading!

2

The buyer’s agent has absolutely zero fiduciary responsibility to you. They must disclose anything about a property that their buyer might be interested in.

3

I think you’re overthinking this. If you feel coming off the list price is in your best interest, then do it. If not, just wait for a better offer.

4

The buyer agent doesn’t have to disclose anything to you regarding a contemporaneous offer situation.

5

Why would you accept an offer under list before the open house?

6

How did they not disclose? You got two offers with different names?

7

The buyer’s limitations shouldn’t affect you as the seller. It’s about agreeing on a price.