A recent real estate situation in Toronto unfortunately took a turn for the worse when an agent decided to sue their client after he pulled his house off the market
After lowering the price twice, from $489,900 to $468,900, the seller agreed to sell for $460,000 if his agent could find a buyer at that price. While the agent found a buyer over the next week or so, the seller crunched some numbers and found that he would be taking a $50,000 loss if he sold at that price. Upon realizing this, he decided to take his home off the market.
The problems arose because the agent and the seller did not see eye to eye on who was supposed to pay for the staging. The seller stated that he agreed to pay half the staging costs if the house was featured on a TV show, which is wasn't. The agent contacted the seller a few times, demanding payment for the staging. A couple of months later the agent sued the seller for $3,340 for staging costs.
Veteran real estate lawyer Mark Weisleder said the biggest lesson is to get everything in writing to avoid situations like this. Whether you are the home owner or the agent, getting things in writing can save you much aggravation and potentially money.
Thanks very much for reading. As always, if you would like to discuss your current real estate situation, I would love to offer my expert knowledge of the Oakville and Burlington markets. You can reach me at 905 845 9180, or by email at firstname.lastname@example.org.
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