Legal Question in Real Estate Law in Minnesota

I was selling my home and received two offers that lead into a highest and best situation. I chose the offer that was the highest offer at that time although both were very close and my real estate agent verbally called the buyer's agent that won the bid letting them know the outcome as well as the other potential buyers real estate agent letting them know they were outbid. I was unable to sign the purchase agreement with my real estate agent until later that night because my real estate agent had other meetings. I just recently received a letter in the mail from the losing bid buyers telling me they had contacted my real estate agent within 5 minutes of receiving a call from their agent who let them know they were outbid. The potential buyers said they personally called my listing agent after receiving the news because they were unable to get ahold of there agent at that time. My agent never informed of this information before I signed the formal written contract accepting the other offer that evening when my agent was free. My agent still has never mentioned that $10,000 was offered. Is there any way for me to get out of the contract I am now in that is 10,000 dollars less? From what I have read my agent could have backed out of the verbal agreement because verbal agreements are not binding like formal written contracts. Is there anything that can be done? Obviously I would rather have 10,000 dollars extra but I also am aware that there is no way to prove they actually said that to my agent other than their screenshot they sent me of their call log.

Asked on 3/05/14, 5:15 pm

2 Answers from Attorneys

Tricia Dwyer Tricia Dwyer Esq & Assoc PLLC

This website provides general legal information. You may confer privately with an attorney to obtain a legal opinion as to your personal situation and potential paths of recourse. Tricia Dwyer Esq at 612-296-9666, Tricia Dwyer Esq & Assoc PLLC, Minnesota Real Estate Attorney,

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Answered on 3/06/14, 2:28 am
Morgan Kavanaugh Wilkerson & Hegna, PLLP

It sounds like you may have a claim against your real estate agent. You should contact an attorney immediately to discuss your options.

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Answered on 3/06/14, 7:21 am

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