Again your legal counsel should be directing you as to how to enforce the forms you signed. He should also be aware of what to do to enforce them.
Not to defend the listing broker - but he is a representative of the seller and it is his obligation to do as requested (within the law) . It is not he who did not sign the p&s it was the seller, who has no obligation to but you do have recourse if he does not. Whether that recourse is practical is another question.
I would of had my attorney send them a lis pendens but you would of had to present them a Standard Form p&s (no changes (which is not without its own risks)) with the full deposit in the timeframe that were spelled out in the offer form or what the two attorneys had agreed upon.
We talked with several different lawyers and they seem divided on the matter. My agents intend to pursue action with the real estate board under the logic of the listing broker not acting in good faith which was certainly the case. The listing broker actually admitted to us that he never had any intention of signing the P&S from day one. he also cited several things as an excuse that were not even included in it. That is documented. I have no comprehension of why he thought it necessary to tell us that.
They returned my deposit but did not send a release form. It has now been two weeks and no release form. I was under the assumption that they could not move forward with another offer until they had that.
Regardless of the legality, my personally belief is that the listing broker acted immorally at best and there needs to be some legal ramifications for that. Perhaps it will save someone else this grief in the future.
Territory Real Estate
Massachusetts Destination for Home Buyer's
617 848 5407 ext 704
Whatever it may be over may still prove difficult and costly to get lawyers involved.
Also, if you do not trust your real estate lawyer for these legal matters, then it certainly won't hurt to look around or ask for a recommendation or two.
Best of Luck,
Thank you for the info, most mortgage contingencies allow you an out. If you are asking for something specific that is not ordinary it may raise red flags that question your ability to perform.
Has your deposit been returned? If not you and you still have not signed a release you may still have a chance. Again, I would of recommended that you submitted the revised p&s with the deposit check when required, as the seller does have legal requirements to negotiate a p&s in good faith. Was this done by you and your attorney, once you were aware that the clause was not acceptable?
Listing agent has nothing to do with the legal aspect it should be the sellers attorney.
I am not your agent nor your attorney, but either should be able to guide you based on the specifics of your situation.
I'm not sure I should use specifics in case those involved frequent the forum. I can say that it was a request that would give me the option of backing out if the bank required something extra that was not typically required (it was one very specific thing). If that helps. It did not involve any concessions from the seller. I can also say that the listing agent was given well over 24 hours to respond to this request a day before the P&S was due. He did not respond. When we submitted the P&S agreement to them they declined it based on this request. The argument being made by my side is that they purposefully did not respond in order to back out and accept a higher offer.
They did not send a release form that I am aware of as you mentioned earlier.
You do have rights and under the terms of the offer time to work out a p&s, your attorney is negotiating and if a term is not acceptable it can be removed for them to ignore it is not working under the terms of the legally binding contract they have signed. (but you do have representation who is more familiar with the specifics of this transaction)
The second addition you mention what was the request if you don't mind sharing?
I am a real estate attorney and broker. It will depend on a number of things, including the wording in your offer letter. Also, even if they were not allowed to back out, you would most likely only be entitled to whatever costs incurred as a result of their breach of contract. It is much harder to force them to sell you the house. Feel free to contact me and I would be glad to help you with this issue, or to help you find another place.
All the best,
Michael P. Welsh, Esq.
The listing agent was extremely difficult to work with. Sometimes he took days to respond. I have no doubt they received a higher offer.
One addition we wanted to make was discussed before hand. They wouldn't accept it so it was removed. The second addition to the P&S was asked the day before the due date and we never got a response from him. All the parties on my side were convinced this was ignored deliberately in order to cancel the deal.
If I knew then what I know now I would have removed it.
Suing in such situations can be costly and results not clear, as some brokers already pointed out here.
Were the terms of the amendment discussed in advance or did you spring it on them on the day the P&S was slated to be signed? How clear or what contingencies were in the original signed offer?
I'm not a lawyer and can not advise on the legality of it all, but I do know some practices that we've been drilled on to keep our clients out of court as much as possible. So, I am just trying to figure out what has triggered the seller to do this. The expectation is that there has been ongoing discussions from the time the offer was accepted to the time the P&S is signed and anything deviating from the specifics on the offer gets clarified at that time.
While it may be true that the seller is looking for an excuse to back out for a better (higher or more expedient) offer, if you have a trail of communication leading up to the final P&S, you could have a stronger case of the seller reneging.
The fact of the matter is ... in Massachusetts, a signed offer is an agreement only for the terms as stated on the offer (which may have several contingencies) and is only as good until a final P&S is signed at the specified date and time and should contain as little to no contingencies as possible unless other AGREED UPON amendments are made along the way. The signed P&S is what is most binding, that is why it's advantageous for both sides to get to a straightforward fully executed P&S as quickly a possible.
What my client did in a very similar situation was to meet the terms that the seller requested (they actually had a higher offer by 20k and wanted out) and presented the signed p&s with the proper check to the seller and sellers attorney within the time frame that was spelled out in the offer for performance.
However your attorney should be directing you properly. And he should be able to work it out.
There are so many unknowns in your questions that I don't know how anyone online can tell you much more than to sit down and have a real estate attorney review the signed contract and advise you. You can certainly make it difficult for the Sellers to sell the house by tying them up but before you do ask yourself, if it's going to be productive and if you want to purchase a home under these conditions assuming you could get the sellers to capitulate.
Can the seller back out? depends on the offer wording of your p&s ( a mutually acceptable p&s or the standard form p&s)
I would have your attorney remove the clause and resubmit it. Also you can sue them (ask your attorney) it would tie the property up and they could not sell it to another person,
Sometime sellers get another HIGHER offer and try to get out of the deal. Do you know if that is the reason or if they just dont want to move.