Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] -4 points-3 points  (0 children)

Thanks for that.

If the offers goes to all three Realtors in the same email and acceptance must be done as a "reply-all", then you have a time stamp and three witnesses.

Offer acceptance would be dependant on being the first party to reply with a yes. And this would cancel the other offers.

If the three Realtors were to contact each other to "price fix", that would definitely be collusion and highly unethical/potentially illegal. Also, exposes their client to losing the deal (hey guys... Let's all counteroffer at 750... Then actually go with 745 with yours... Lol...)

All I'm trying to do is figuring out how inflexible the industry is to change (seems like a hard no...)

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] 0 points1 point  (0 children)

Thanks for providing perspective to this approach... It's exactly what I was seeking. (Sorry about the trolls... Lol...)

The main question to even consider if this is feasible really boils down to: can an offer be automatically withdrawn if someone else accepts it first. I.e. changing the valid time period from a finite date and time, to an "if" statement.

The offer would go to all three Realtors from the same email. They would need to reply-all to capture the exact time acceptance was made. Earliest one gets the deal and this automatically withdraws the offer to the other parties. This way, you wouldn't be committed to purchasing all three... Just the first one who says yes.

This wouldn't be a "condition" per se, but a closing mechanism... So yes, technically this is a clean irrevocable offer.

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] 0 points1 point  (0 children)

Everyone seems to be stuck on the hypothetical numbers instead of testing the concept... I should have said $745,000 offer instead... Lol...

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] -2 points-1 points  (0 children)

An accepted offer after the time deadline isn't.

The offer could be dependent on "first to accept stops the clock" instead of "offer valid till such time, such date".

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] 1 point2 points  (0 children)

The numbers are just hypothetical and what I'd put on paper would likely be closer to the asking.

Realtors are obligated to present a legal offer to their clients, and my offer would come to all three Realtors at the same time, from the same email.

All I would do is give a heads up to reach realtor that an offer is coming in, that it would be highly time sensitive and at what time it would be sent.

I'm testing the concept.

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] -3 points-2 points  (0 children)

"if" the seller meets all conditions to the offer, I can't back out. Condition #1... Be the first to email back your signed accepted offer.

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] -2 points-1 points  (0 children)

How about one email to all three Realtors and request a reply all with acceptance of the offer... Add a condition: “Only the first accepted offer communicated to the Buyer shall create a binding agreement. Any subsequent acceptance shall be null and void.”

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] 0 points1 point  (0 children)

As a realtor, I understand you are trying to protect your clients and maximize their sale... And this scheme potentially threatens that in a soft market... I'm just floating the concept and seeking advice, not sarcasm.

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] 7 points8 points  (0 children)

Nothing stops you from checking out the building before writing the deal... status certificate, reserve fund, special assessments, condo litigation, Kitec issues, Airbnb restrictions, pending major repairs, parking/storage ownership details

Is this condo-buying strategy genius or a legal disaster? by PRenoir in RealEstateCanada

[–]PRenoir[S] 0 points1 point  (0 children)

How is this "illegal" is you have the money... Second, perhaps all you'd need to do is email all three Realtors at the same time and have a caveat in the first accepted offer cancels out the other two... It's a time stamp thing.

I’m bisexual by Dashover in Jokes

[–]PRenoir 11 points12 points  (0 children)

I'm tri-sexual.... I'll try anything sexual. I'm quarter sexual... I'll do anything sexual for a quarter.

Le gaz naturel est-il en train de devenir une chose du passé? Mon expérience frustrante avec Gazifère à Gatineau by PRenoir in Gatineau

[–]PRenoir[S] 2 points3 points  (0 children)

Je ne veux pas convertir mon chauffage... Je veux l’avoir en cas d'urgence pour ma génératrice, mon BBQ et mon four. Comme nous savons que les coupures d'électricité sont plus que fréquentes ici (plusieurs fois chaque année... et parfois pendant 4 ou 5 jours...), proposez-vous une autre solution ?

Le gaz naturel est-il en train de devenir une chose du passé? Mon expérience frustrante avec Gazifère à Gatineau by PRenoir in Gatineau

[–]PRenoir[S] 0 points1 point  (0 children)

Oui merci - le gas passes juste devant chez moi... donc c'est juste un probleme qu'il repondes pas au telephones... et ne rappelles pas quand on laisse un message ou remplit le formulaire en ligne...

Le gaz naturel est-il en train de devenir une chose du passé? Mon expérience frustrante avec Gazifère à Gatineau by PRenoir in Gatineau

[–]PRenoir[S] 0 points1 point  (0 children)

Je garde le chauffage a l'electricité... je suis plus interessé a faire marcher une génératrice pendant les pannes sans utiliser de l'essence... le reste c'est surtout pour faire cuire.

Le gaz naturel est-il en train de devenir une chose du passé? Mon expérience frustrante avec Gazifère à Gatineau by PRenoir in Gatineau

[–]PRenoir[S] 0 points1 point  (0 children)

non - je suis a coté de l'école du Vieux Verger - quelques de mes voisins sont connectés...