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.
As a question to all the professionals responding to the OP's plight: I was under the impression that contracts were set up with a closing date included, meaning if it did not happen by a certain date, then everything had to be redone. When did all this change? This is grossly lopsided and unfair to the sellers and I am relieved to see so many pros recommending legal action. I can't imagine being this patient and understanding, OP. What a story......I certainly hope it works out favorably for you.
You have two things going on here. (I'm not an attorney and things vary by state, but general information should be of use.) One, the listing agreement. If the listing agreement expired while there is a buyer under contract, the listing agreement stands because the contract for purchase was executed during the listing agreement. If you were to close in February, that means you were under a valid listing agreement at the time as it probably went under contract in January.
If the listing contract already expired when you went under contract with the buyer, that's probably because you had a "protection period" that if you sell it within so many days, the listing agreement can still be in effect. Read your contract...
Two, your purchase contract with the buyer. If the closing date came and went, and you never extended the closing date with an amendment, you are probably out of contract. Contracts are only as good as a "meeting of the minds" so if there is communication that you've agreed to continue the contract, even though it is "expired" because it didn't close, you could be deemed still in a valid contract because of those communications. Hopefully there are emails stating this because all real estate should be in writing.
Again, not an attorney, but I suggest you get something in writing on an amendment that spells out exactly what you want to happen. Close by X date and buyer to pay $x to cover insurance, utilities, etc... Spell it all out so there is no confusion as to what everyone is agreeing to.
I wonder if the "buyers" are really living in the woods. This could possibly be even more complicated than it appears...and that is saying something. Perhaps they are really in the house. Name on utilities, furniture and all...holy smokes, OP. And a more serious question is WHY is it taking a QUALIFIED Buyer so long to get closed? Is it really ever going to happen? Why are you waiting another 2 weeks? You have been "2 weeked" to today, June 1. It is your property, you can walk in or discard whatever you want ( although I do not advise that in this day and age of anger and guns); you are being USED by both your broker and agent and by the faux buyers!
My husband is planning to file a suit against the broker after this is over, hopefully before June 15th. There is no legal basis for any of them to counter sue us as there is no contract with the broker. The agent told us Tuesday that she emailed the contract to Geneva financial and we then asked for a copy of it, since we know the only one that exists is the original one that expired in January. We thought maybe they somehow transferred my husband's signature onto a new contract. She stated she sent it to us but there is nothing even resembling an official contract. Wouldn't the bank require an official "current" up dated contract with my husband's signature? Or can they use the one from January that states if there were no closing after 30 days that the contract was terminated? The agent also stated that she would add the additional monies we are asking for (storage fees for our units, storage fees matching our costs for their belongings, and electric costs) to the buyers closing costs. I believe these additional expenses should have to be paid by the broker for allowing them to use our house, address, and utilities. We have not been in the house since they've been using it to see if they have damaged anything on their way in. I suppose if they don't meet the deadline we will know then.
In your profile, you've given your location as Toledo, Ohio. Does that mean the house you're trying to sell is in Michigan? If so, here is a link to the complaint form that you'll need to fill out for the state:
It seems clear that all of the agents and brokers who participated in allowing them to move into your house were in the wrong. They could likely be sanctioned by the state, be fined, or even lose their license...and I'm sure that they realize that by now. With this hanging over their heads, you have great leverage to negotiate a private settlement--but you should do so only with the help of a qualified local-to-the-area real estate attorney.
In preparation for meeting with an attorney, I would suggest that you begin to gather all of the information that you'll need to submit to the state in order to file a complaint. The good thing about filing a complaint is that you can do so without incurring a lot of expense. Lawsuits can be expensive, so you should seriously consider trying to work out a private settlement--again, only through an attorney. The state even asks if the matter has tried to have been resolved directly with those whom you're filing the complaint against.
Close if you can; and if the Buyer will really cover your expenses that would be a plus. The broker and agent may very well be more than happy to rebate all of their commission to you (and then some, possibly). The penalties they might incur from the state could be much greater. Good luck.
You need a real estate attorney in the location of your property.
I would also have a conversation with the managing broker. Now. Write down their answers and confirm the conversation in an email.
You should be paid rent at the very least. The brokerage should offer to eat their commission.
If they're serious about filing a complaint and possibly filing a lawsuit, I think they should first meet with a real estate attorney who is local to where the house is located. Communications with the brokerage about a possible settlement should be done through an attorney. The brokerage will take that much more seriously than if the OP contacts them on their own.
Wow... I just posted a very similar situation except we agreed to let them lease the house being told they just needed a couple more months. That was 8 months ago. The still don't have a loan commitment and though we were told they wanted to close by the beginning of the year by our dual agent, the buyers and agent both knew that wasn't going to happen. Now we are financially struggling because even though they are paying the mortgage all our plans were based on using the profit from the house and we've had to change everything.
I'm sorry you're going through this too. So frustrating.... and crazy what people think they can do to others.
I don't give a rat's buttocks where or how the buyers are living now. They are preying on your goodwill. No way on God's green earth financing should take SIX MONTHS. This deal has gone south in SO many ways. Get thee to an attorney and get rid of these idiots. I suspect your contract is probably void at this point, anyway, since they are so far past the closing date. And keep the earnest money -- you're going to need it to clean the house again.
Stop taking phone calls from them. Refer everyone to your attorney from now on, because you are just too much of a pushover. Have your attorney tell them if their stuff isn't out of the house within 24 hours, it's going to be on the curb. And FIRE your agent and broker and bring them up on disciplinary charges with the state board. There is NO way any agent should be this frickin' clueless. They are NOT looking out for your best intersts if they aren't actively trying to eject these edjits!!
What could you have done when the furniture appeared? YOU COULD HAVE HAD IT REMOVED. Which is what should have happened, and your agent should damn well have been managing the process since they allowed it to happen in the first place. And how on earth did the utilities get changed to their name? They didn't have a closing statement, etc. to show that they were the owners, which is what we would nee around here, and I assume you had not cancelled the services, yet?
Hire a new agent and get the house back on the market, ASAP. And fry your old agent/broker in boiling oil.
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.
