Posted by JB in MD on May 29, 2000 at 22:45:11:
Do you mean a Real Estate Sellers Agent or a Buyer Broker? I may be wrong, but if you mean the Sellers Agent, then I think there may be a conflict of interest on his/her part that could put him/her and you in a lot of trouble. This is due to the fiduciary responsibility the Agent has to the seller. He/she has the duty to get for the seller the highest possible sales price for the property. If the Agent knows of the other buyer who is willing to pay 72k on a 60k asking price, it seems to me they are supposed to cut you out. Not that this sort of thing doesn’t happen every day of the week, I’m sure. If your arrangement ever became common knowledge, it could be a sticky situation, and not one I would want to have to explain. Keep in mind I may not have understood your question fully; wait for others to reply.
Best of Luck,