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.
So my wife and I found a home we liked and went through heavy negotiations with the seller's listing agent a little over a week ago. We found in the process they were extremely eager to close by July 1st, even to the point where they proposed to bring $5,000 to close if we agreed on July 1. We accepted the offer and SIGNED A CONTRACT on Friday evening.
On Monday this week their real estate attorney informs us immediately that they do not like the provisions of the contract and are uni-laterally voiding the contract. Their listing agent also contacts our agent and says that he's sorry but his clients (sellers) want him to relist the property. He never relists it. Our "guess" is that he continued to show the property over the weekend, while under contract, and took a higher offer. We've since sent a letter from our real estate attorney that we are under contract and asking to confirm that they have NOT received a higher bid from another buyer. It's been 24 hours with no response.
Other items to note that were very shady in this process:
1. The home was listed (illegally) as a 3 bedroom home, when really it is a 2 bedroom home. The third bedroom is in the basement, does not have a full window, and no closet.
2. When we first bid the listing agent said he will reply after 6pm that day. We found later that he had contacted our mortgage broker and asked him to provide how much we were pre-approved for on our loan. Our mortgage broker had to tell him several times that he can't give out that information.
My question is, assuming we don't get the house because of all this, what legal action can we take to either A). tie up the home in litigation so they can't sell it and what the costs look like to do so, B.) what action can we take against the listing agent for unethical and illegal activity, and C.) What else can we do in this situation that we may not have thought of.
We've already begun looking at other homes, but does this not bother anyone else? This is so shady and unethical...what's the point of even shopping for a home when agreeing to a contract apparently means nothing and is unenforceable?
We don't have legal review periods per se in Florida so I'm curious...when you say you had a contract, does that mean that both you AND the seller signed this contract and each party had a fully executed copy?
I'm wondering if you really had a binding, enforceable contract or if you had a document, signed by you but not the seller, outlining the terms and conditions you both negotiated.
We don't have legal review periods per se in Florida so I'm curious...when you say you had a contract, does that mean that both you AND the seller signed this contract and each party had a fully executed copy?
I'm wondering if you really had a binding, enforceable contract or if you had a document, signed by you but not the seller, outlining the terms and conditions you both negotiated.
We have a contract signed by both parties agreeing on price, terms of closing, and close date.
We don't have legal review periods per se in Florida so I'm curious...when you say you had a contract, does that mean that both you AND the seller signed this contract and each party had a fully executed copy?
I'm wondering if you really had a binding, enforceable contract or if you had a document, signed by you but not the seller, outlining the terms and conditions you both negotiated.
Same here, no attorney review in Texas. I don't understand why there would be an attorney/legal review if there is already an executed contract. It seems it would need to be reviewed while it's in an "offer" state before two parties have signed and executed something to then say the terms are unacceptable. Signing something into a "contract" means all sides have already agreed.
We've already begun looking at other homes, but does this not bother anyone else? This is so shady and unethical...what's the point of even shopping for a home when agreeing to a contract apparently means nothing and is unenforceable?
Of course there are jerks out there and no one likes getting jerked around.
But, what is your end goal?
Are you working to own a home or to offer unwanted remedial instruction in ethics and manners to jerks?
Usually, you are just as far ahead to cinch up your britches and move on.
I say, "Go for the house," unless you have an irresistible higher calling to reform society.
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.
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.
