Is this Legal...Need advice (accept, agreement, price, properties)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Real estate agents do not put deposit monies into their personal bank accounts. The broker in the firm has to set up an escrow account for your deposit. What this agent did is illegal.
Contact the broker in the firm to discuss what happened.
At the same time, contact the real estate licensing division for your state and file a written complaint.
That should get you your money back. If it doesn't, then go to small claims court too.
And while you're at it, see if you can find a homebuyer seminar in your area. You're totally clueless about buying a house. The agent is bullying you because he knows you know nothing about how the process works. He's already gotten $ 800 out of you and figures he can get more.
you can look up if this person is holding a license, and you can also file a complaint. Other helpful links and phone numbers
EDITED:
I posted Massachusetts links, but I don't know where you are. Each state has own regulations, and complaint forms. Go to your state's website, and you will find info.
The realtor showed me the house and asked for a deposit. I gave him $800.00 and he said he wanted me to direct deposit more into his bank account the following week. The owner's lawyer refused to write up such a contract without first notifying the bank.
<>
I looked at the house once, I never signed anything.
Quote:
Originally Posted by sunny614
I have a receipt, I gave him cash.
WOW--just WOW.
You need to first confirm the identity of this person. Did he give you a business card? Do you have his phone number? Email address? Business address? Personal address? Search for information about him online. Then file a complaint with the state real estate license agency. If he is a licensed real estate agent, there is a good chance that you can get your money back--or at least have him dealt with properly. If he turns out not to have a real estate license, immediately file a police report against him...and kiss your money goodbye.
If ever you should be interested in buying real estate again, please get some assistance--whether that be from a real estate agent, a real estate lawyer, or even a friend experienced in real estate transactions (but be careful with this last one--they may think they know more than they know). And never give deposit money to anyone without a written contract which has preferably been reviewed by your attorney.
The NAR is a trade organization that licensed real estate agents choose to join or not join.
The NAR does not issue licenses, and has no authority to revoke or suspend them, or to take any disciplinary action that affects the license. They can issue a fine, suspend membership in the NAR, and mandate education.
OP should certainly file a complaint with the local Association, if in fact this offending "agent" is a member of such. But the first step should be to contact local license officials.
Ok you can still file a complaint with them even if they are not a entity that can do anything. It might make other people aware. But the state license board for realtors can do something so can his broker. And if the guy is a broker someone issued him a license to be a broker. Op is looking at a possible fraudulent circumstance.
Before I even THINK of giving a realtor ANY personal information ( much less any money) besides my name and a phone number to reach me at I check them out to see if they are licensed and the license is active and who is their broker.
And while you're at it, see if you can find a homebuyer seminar in your area. You're totally clueless about buying a house. The agent is bullying you because he knows you know nothing about how the process works. He's already gotten $ 800 out of you and figures he can get more.
Very good advice. OP, you're clearly in over your head, and that's made you an easy target. This agent is just trying to brow-beat you until you walk away without your money. After reporting to the licensing division, I personally would consider small claims court. But honestly, after the judgement you've shown on this transaction, I question whether you're prepared to navigate the court system either. Do you not have a husband or someone that can help you with this?
We went to look at a house that offered owner finance for 30 years and at the end of that time the home would be sold for $1.00. The realtor showed me the house and asked for a deposit. I gave him $800.00 and he said he wanted me to direct deposit more into his bank account the following week. The owner's lawyer refused to write up such a contract without first notifying the bank. The realtor fired her for this. We thought the owner owned this house straight out. Trying to do it with a mortgage could initiate a due on sales clause if caught. We were not willing to participate in such a contract either as it would be risky and we could lose the house and the 43k down payment. He then says I will retain a lawyer so you will be protected and then we find out it is the realtors personal lawyer.
I looked at the house once, I never signed anything. The ad as misleading and the realtor was dishonest. he has called my house yelling and swearing on my voicemail and has used the f bomb when talking to me and gets very aggravated when questions are asked. I want my money back but he said I would have to sue him and he will advise the owner to sue me for breach of contract. I never signed anything. It cost me $800.00 to look at a house? Can he do this?
Sounds like he accepted your funds into his own bank account (this is probably not legal unless he deposited into a trust account). If he accepted your funds into a trust account, he is now your agent and has a fiduciary obligation to you as his client.
He has no right to retain the deposit because you did not sign off on any contingencies. I would threaten him with not only a lawsuit, but going after his license by contacting the District Attorney, State Attorney General, and the Real Estate Commissioner. If he doesn't budge, I would pursue these avenues and almost certain that you will get your money back, and he will have his license suspended or revoked.
Watch him dance a pretty dance once you unload the above paragraph on him
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.