Net Listing??

[Michelle Elsaid]

Hi BP,

I made an offer at list price for a house at $219. The seller decided to take off market and see if his tenants could buy. When they couldn't, my realtor called and said owner was willing to sell but wanted to net $220 and so the price changed to $235.

In all honesty, the house was somewhat undervalued when originally listed ($225-230 was very fair). When he said net, I was thinking his purchase price versus sale price and since I have had a long difficult search finding FHA multifamily I did not mind. As I'm studying for my RE license, I'm realizing that the difference might actually be the realtor's commission and that I may have had more room to negotiate than my realtor was leading on that I had little to none.

Is this legal to come from my realtor? The owner had a different realtor.

Thanks,

Michelle