Is a broker allowed to alter an offer after the buyer has signed it without the buyer’s consent and/or knowledge?
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Is a broker allowed to alter an offer after the buyer has signed it without the buyer’s consent and/or knowledge?
I contacted my daughter a newly licensed real estate agent with the address of a property that I intended to purchase. The deal was very specific with property to be conveyed via quit-claim. No warranty
Asked on August 24, 2017 under Real Estate Law, South Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
No, an agent may NOT alter your offer after you put it in without your concurrence or consent; obviously, they can recommend to you that it be changed, but that's all they can do--recommend. You could sue the broker/agent for professional malpractice; if you can sue show that their alteration cost you the property, you can potentially recover your losses, such as the lost profit, but bear in mind that proving potential or future profit can be difficult, and is subject to offsets or reductions, such as for the time cost of money ("reduction to present value"), a discount for risk (no investment is certain), etc. Thus, you have a reasonable chance, based on what you write, of recovering something, but it may not be as much as you think or hope it will be.
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