Not sure if we have grounds to sue or not, but when we were looking to put our property on the market the Real Estate agent gave us an estimated price our property would sell for. Since going on the market 3 weeks after this discussion & signing a contract, however, there has been a market drop.
We understand this does happen, however, there is a $270k-370k difference in the price we're were originally told our property was worth vs the highest offer we have received. Further to this, we were told auction was the best way to go despite the drop in auction clearance rates. No price was listed and we got minimal enquiries. It got passed in a auction and then a price was listed. Since then we have gotten many enquiries and offers (still not at the value we were told it was original worth). We told the real estate agent early on we thought it best to list a price but he wanted to use a different strategy which essentially did not pay off in our eyes .
This essentially lost us 5 weeks where we could have had a price listed and already sold. We were assured it would sell st auction of before and a 5 week strategy would work. We are now 7 weeks in and coming close to selling. None of the current buyers were at the auction. Apparently it took 7 weeks to sell the property 4 years ago but we were not told this until recently. If we would have known we would have done things differently and not gone through all the stress we are going through now.
Do we have any grounds to sue under property law?
We understand this does happen, however, there is a $270k-370k difference in the price we're were originally told our property was worth vs the highest offer we have received. Further to this, we were told auction was the best way to go despite the drop in auction clearance rates. No price was listed and we got minimal enquiries. It got passed in a auction and then a price was listed. Since then we have gotten many enquiries and offers (still not at the value we were told it was original worth). We told the real estate agent early on we thought it best to list a price but he wanted to use a different strategy which essentially did not pay off in our eyes .
This essentially lost us 5 weeks where we could have had a price listed and already sold. We were assured it would sell st auction of before and a 5 week strategy would work. We are now 7 weeks in and coming close to selling. None of the current buyers were at the auction. Apparently it took 7 weeks to sell the property 4 years ago but we were not told this until recently. If we would have known we would have done things differently and not gone through all the stress we are going through now.
Do we have any grounds to sue under property law?