Legal Question in Real Estate Law in Nebraska
Binders & Quoted Wrong Price
My son has been working with a real estate agent to acquire a property. The agreed upon price was 73,300 until the agent called today and said she had made a mistake in the paperwork. She told the bank the selling price was $73,300 and all but the final agreement states the $73,300 price. My son made the mistake of not thoroughly reading the final offer paperwork before signing and the agent mistakenly listed the selling price as $75,500. Are there any legal recourses and should he have to pay the higher price if it was the agent's mistake?
1 Answer from Attorneys
Re: Binders & Quoted Wrong Price
Your son has primary responsibility for reading the terms of the offer he signed, particularly a term as important and distinct as the selling price. If seller is nice, they may agree to modify the agreement to reflect the lower price; but they are not required to cooperate. Additionally, real estate agent may assume the responsibility for the error and either personally refund the difference or file a claim under her errors and omissions insurance. Essentially, your son is stuck with his own careless action unless the seller or agent is willing to be kind. Approach the other parties asking for cooperation instead of demanding it.
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