Hi there
I signed a sales inspection report and agency agreement yesterday and am in the cooling off period. I am happy to sell and all conditions but have decided that want to increase the price I have agreed to sell at as I believe the agent has encouraged me to advertise at too low a price after checking the competition.
The clause that says:
The principal authorises the agent to sell the property for $xxxxx or such a price as the principal might agree to accept.
Am I bound to sell at the $xxxxx price or can I refuse? I contacted the agent this morning and he said that agreement is only between him and me and it is not necessarily the advertised price. However, as it is a contract, I am feeling rather distrustful of a verbal agreement that is different to a written one.
Does anyone here know about this?
I ended up asking the R.E. to come around and had the agreement amended and initialed. Still don't know if this was definitely required or not though.
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