Have been negotiating to buy a commercial property with the Vendor through the Selling Agent. We are also the current Tenant. Agent handling the sale is ALSO the Managing Agent of the property. As current tenant we were give first option and were advised no approached was made to other party and the property was not advertised in the media for sale. The owner wanted $Y. After two counter offers we were informed verbally that our final offer was accepted. Our final offer was made based on the initial information provided by the Property Managing Agent and Selling Agent. Agent did not care to confirm in writing despite several request to confirm in writing or text so as to enable us to pay the deposit in accordance with the sale and acceptance terms. There was long period of silence in between, more than 3 weeks as the Agent was not contactable. Furthermore, no other information was provided to indicate that we are competing against a second party. We were only advised that we were not successful after we succeeded in tracking down the Agent 10 days before due settlement. No reason was given for his inaction. Do we have ground for lodging a caveat? What course of action can we take against the Agent in which we consider his conduct as improper and unethically.
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