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What do we do if our realtor wasn't honest with us and got us into a contract that we are now not happy with because of his lies? Our realtor, lender, AND attorney are all friends, and of course it is VERY apparent that our own attorney is NOT on our side here. He already informed us this morning that he wasn't comfortable going after the realtor for lying to us(because they're buddies) and then said nor would you want me to do that, since then my rates will be $300/hour to proceed...we needed an early possession(possession prior to closing) on the home we found, and no less than 5 times the very first time we looked at the house, while still AT the house, we told the realtor that early possession was mandatory since our current lease was ending. He said oh no problem, I've done these deals many times, it's no problem. Our lease ended 11/30/14, and we were given, in the contract, a closing date of 12/15/14. It wasn't tentative, it wasn't maybe..it was closing date IS on 12/15/14, telling us where to be and everything...I thought in real estate law you had to abide by the 4 corners of the contract? We had no idea that our realtor was supposed to enter the early possession stipulation into the purchase agreement, and he didn't tell us that the USDA loan we were applying for would take months, being that it's a government program. We have since found out these things by talking to other realtors. Now, our interest rate lock(3.875%) AND our loan offer are set to expire on 12/22/14, and our lender is telling us that we are potentially looking at January to FEBRUARY for a closing..mind you, this was set in motion on 10/21/14..We now want to back out of the deal, due to the fact that our lease expired on 11/30/14, we were given a 1 month extension by our current landlord, but we have been told that if we need more time the current landlord wants us to sign a year lease. So, here it is Christmas time,(mind you we have 2 grandsons and we can't even decorate for them, and they're 5 and 2 yrs old, how do you explain to them that our lives are in limbo?) So we are potentially looking at having nowhere to go in 2 weeks, and none of them care. Now, the sellers attorney, who hasn't even presented the early possession to his client yet, tells us that if we want "pre-possession" he wants $5000 for a "security deposit"!!!!!! This was a no money down deal(but of course has already cost us a grand) and now they tell us this?! After a full 2 months into the deal?! Obviously if we had $5000, we would have used it for a down payment! We complain to the realtor and he says well, I don't know what you want from me, let the landlord where you are evict you! Why? Because it will be OUR names affected and not yours??(his) They are all just telling us too bad, this is what it is..our only recourse at this point is if the mortgage gets denied...so what happens if on 12/22 the lock in and loan offer expires? Do we have to start this all over again? And what happens if the interest rates are higher? We are just stuck with this whole deal, when we were lied to to even get us to sign the contract to begin with? We would've NEVER signed the contract the very first day if we knew we couldn't have early possession OR that the USDA loans take forever to get! Does ANYONE out there have any advice for us?! How can they do this to us?!
I sent you an email I hope it help you. Also i have family member who are in real estate and a law professor. but I feel information I sent you can send you to the right people or agency for help. Because what they are doing is illegal and you can also call the department of license and make a complaint if they feel they are in violation they will void out your contact with that agency and advise the seller they may end up losing their buyer and the real estate agent may lose his license. Again start making calls. as for the lawyer tell him you will report them to Attorney Grievance Committees on their conduct with a client at Attorney Grievance Committees .
Status:
"Let this year be over..."
(set 20 days ago)
Location: Where my bills arrive
19,219 posts, read 17,085,392 times
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When you applied for a USDA loan (which I never heard of) did you ask the loan officer how long they thought it would take? Even though you stated the need for early passion did you question your realtor if that was possible? Every element of the sale needs to be in writing or there is no proof. The seller may not have wanted to allow early passion because if your loan doesn't pass they are now stuck with you as a tenant and that's why they are asking for $5000 as a deposit.
Seek legal counsel to find out where you stand, if the realtor is negligent than file the appropriate claim. There are other in the industry who post here regularly, hopefully they can provide some constructive answers.
Ultimately you are responsible to know what you signed and this will weight against you, no one can stress enough read before you sign. Tell your grand children the truth that you are between homes and they can come over and celebrate the holiday once you settle in. They will think it's neat to have Christmas in March just as many military families do when one of the parents are deployed during the holiday season.
Thank you for your response....I quickly went to my email to see what you sent to me and I don't have anything there? I had the friend request, which I accepted(thank you!) but I didn't have anything else..I am BRAND new to this site...is there something I need to do to see your message?
Thank you for your reply...As stated in my original post, yes, I did speak with the realtor about this, many many times...even while we were still at the house we chose, before we ever went to his offer to sign anything, we repeatedly said our lease was ending, we need to be able move in as of 11/30/14(repeatedly stated this fact)...he repeatedly told us that that would be NO PROBLEM, that he has done deals like this many times, no problem at all...so we signed...We had NO IDEA that there had to be a stipulation in the contract for early possession....we had a realtor who should've told us that, and he didn't..we had a real estate attorney who should've told us that, and he didn't...and we don't speak with the loan officer, we spoke with the broker...she also reassured us that the this wasn't going to be an issue...we dd not learn, until a couple of days ago, when we finally started looking for outside help because it became apparent that they were all working together, that there should've been a stipulation in that contract...you stated it ultimately weighs on us, because we signed the contract..I understand what you're saying..however, they are the professionals, and it was my duty to hire someone to protect me FROM this type of thing...that is why I hired an attorney...that is why I repeatedly made my needs clear, MULTIPLE times to ALL parties involved, in writing...I have emails, where I was VERY unhappy with the way things were going, before the end of November, when it was already apparent that NO ONE was making a move for us regarding the early possession...I did everything I could possibly do. Is it my responsibility to READ the contract, and know what's in it before I sign it? Yes, you bet...but it was my realtors obligation under the NYS realtors code of ethics, it states that the realtor ALWAYS must operate with his clients BEST INTERESTS in mind...our realtor has been doing this for his entire life..not only did he KNOW that the stipulation should've been in writing, and should've advised his client(us) of this, but he also is WELL AWARE that USDA loans take months to process, and should've advised us on this as well...had he said EITHER was a problem? We wouldn't have signed ANY contract...but he said neither, and since we had NO ONE telling us that a stipulation was required, we signed..we understood the rest of the contract..we don't know what isn't there...he should've told us, and so should our real estate attorney, who we HIRED to watch out for us...that would be my ultimate defense..no, I didn't know, but I hired someone who did, and they failed to do their job...not only that, but as I said, they are all friends(we were told that after the deal was moving along)...the realtor, the attorney, and the broker...we don't even have privacy when dealing with our attorney..EVERY email we have sent, including TRYING to complain to the attorney about our realtor not telling us? Our attorney cc'd the realtor, and broker in on the response, thereby giving them access to the entire conversation...even after I asked them to stop cc'ing everyone in on the correspondence, they continued...there is NO client/lawyer confidentiality here at all...so then we get nasty phone calls from the realtor and the broker because the lawyer does this? However, we have now noticed too, that since we put in writing TO the realtor that we know he outright LIED to us about this situation to get us to sign on the dotted line? He hasn't contacted us since...awful funny....we TRIED to seek legal counsel to find out where we stand, outside of the legal counsel we have had since day 1, who obviously isn't working FOR us, and the minute we tell an attorney that we HAVE an attorney(kind of hard to hide that fact when you tell the whole story, which we have to do to get proper answers) then the attorney tells us oh sorry, you already have an attorney? You need to deal with them! Click....
One last note? You mentioned the seller may want the $5000 because we would be potentially "tenants"? The seller, even according to his own attorney(which I have the email to prove) hasn't even been TALKED TO about early possession yet..the $5000 demand came from HIS attorney, and in the SAME email he said that when he got that money THEN he would bring the idea of early possession to his client(the seller)....So, where do we turn when we are being railroaded like this? We have done everything we could to protect ourselves, and it has failed..that is what brought me to this forum, hoping to find SOMEONE who would tell me the truth..especially since as of Monday(12/22/14) BOTH our lock in interest rate and our loan offer EXPIRE....
Thank you for your response....We moved into our current place on 11/01/13...we signed a 13 month lease, which ended 11/30/14...90 days prior to that lease expiring, we told them we were leaving on 11/30/14..well, then the early possession fell through for 11/30/14, but we still had a SET closing date of 12/15/14...so on December 1, our landlord let us convert(for astronomical fees) to a month to month...but because we were (supposedly) going to be leaving mid-month, the very same day it was converted to a month to month, we also gave our 30 day intent to vacate notice in writing, because we knew we would be gone 12/15....well then that didn't happen either...now, the broker is telling us it COULD be January, it COULD be February...not only did we also not sign on to all this saying oh hey yea we have no problem paying all these extra fees to stay where we are, but now our landlord is also saying that if we have to sign again? They want another year lease out of us...so we are potentially homeless right after Christmas...nice, huh? We have repeatedly told our attorney and the realtor and the broker that we HAVE to keep a roof over our heads(our 2 yr old grandson and 20 yr old daughter live at home with us too), so obviously as of 12/30 we HAVE to have either the house, or a lease signed somewhere....and our realtor, because he is just SUCH a nice guy said, on more than once occasion now, "oh just let the landlord evict you"...because it is our name that is affected, and not his, so what does he care? This is all just such a mess....
Go to your county/town housing court there tell the judge of your lease situation and they may give you an court order stating for your landlord to allow you to stay on a reasonable rent fee on a monthly basic. Also bring all email with you regarding your real estate office and the agent name.
Make sure you go on tomorrow this Monday it will buy you time with your living situation now and you can open a case against the real estate office. they probably will null and void your contract with the seller with no grounds of you being sued.
Keep in mind any one can be sue someone but that don't mean the person who taking you to court will win. Only the lawyers because they are getting paid for the case.(sometimes legal aid does pay off)
So focus... Go to housing court on Monday especially now with the holiday the judge may grant you some leave way.
Ok
Last edited by mgeorge22; 12-21-2014 at 11:23 AM..
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This was a no money down deal(but of course has already cost us a grand) and now they tell us this?! After a full 2 months into the deal?! Obviously if we had $5000, we would have used it for a down payment! We complain to the realtor and he says well, I don't know what you want from me, let the landlord where you are evict you! Why? Because it will be OUR names affected and not yours??(his) They are all just telling us too bad, this is what it is..our only recourse at this point is if the mortgage gets denied...so what happens if on 12/22 the lock in and loan offer expires? Do we have to start this all over again? And what happens if the interest rates are higher? We are just stuck with this whole deal, when we were lied to to even get us to sign the contract to begin with? We would've NEVER signed the contract the very first day if we knew we couldn't have early possession OR that the USDA loans take forever to get! Does ANYONE out there have any advice for us?! How can they do this to us?! 
