I was alarmed at how poorly prepared the sellers were for the legal paperwork. The sellers were unprepared for the quick action required. They had no ready council. The notion of “time being of the essence” or in plain language dead lines and expiry dates was disregarded. They were unaware of the legal, fiduciary responsibilities of agency. They appeared to be unaware of the function organized real estate professionals play in representing buyers and sellers. And finally I’m not certain they were adequately aware of the recent values of community houses and how theirs house fit into the larger housing market.
I frequently found myself explaining terms and concepts to clarify terms of the the current Ontario Offer to Purchase, to the sellers and this was done in parallel to my presence as negotiator for the Buyer.
When one party wants everything and there is no sense of fair negotiation, no balance. The going can be painfully slow as it was with this transaction. Unfortunately the seller had to frequently break off discussion and call their lawyer about details when they should have been guided by their trusted real estate agent. I’m sure their lawyer will charge for their time and expertise. Somebody has to “pay the piper”! And it’s not over yet. There’s a building inspection and possible amendments to closing dates for the seller. Rigid negotiation is like an echo. It has a way of returning to bite the caller! Hopefully, not in this situation