Home Buying in 77382>Question Details

Scott M, Home Buyer in 77382

How are Texas Real Estate Agent's held accoutable?

Asked by Scott M, 77382 Sat Sep 15, 2012

Tried to buy a house, issues where found during the inspection. Seller refused to adjust price & deal ended. Seller claimed damages RE: inspection and refused to release deposit then sued me. My Agent diched me and refused my calls. Is this the norm? If so, what's the value of an Agent?

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The agent should stand beside you to the termination of the transaction. In Texas, the agent is only an extension of the Broker. Contact the broker who is holding the license of the Sales Agent. It sounds like what happened to you happens daily in this business. A lot of agents don't really understand what is really in the terms they fill out in the contract. There are specific dates that are assigned to specific tasks in the contract. If you did not abide by the finance date, option date, or closing dates, you may be in breach of the contract. The Broker is the poerson who is held accountable by the Texas Real Estate Commission.
0 votes Thank Flag Link Tue Sep 25, 2012
Scott, there is so much that has yet to be disclosed here so no one can tell you if this is the proper course of action or not.
0 votes Thank Flag Link Sun Sep 16, 2012
It sounds like there's a whole lot more to this story than what Scott M. has shared. It's not the norm, but it doesn't sound like your situation is normal either. Who did the inspection? Was it a licensed inspector, or did you and a friend go inspect and cause damage to the Seller's property? Licensed inspectors normally carry insurance, so if a licensed inspector caused damage it would seem the inspector or insurance company would be taking care of damages. It sounds to me like there's an allegation that you somehow are responsible for the damage.

So it's very hard to tell what's going on since you only offered up the tip of the iceberg.

Thomas Jones
0 votes Thank Flag Link Sun Sep 16, 2012
If it was after the Option Period (OP), the seller could have claimed that the Option Period was over and keep the $1000.00 Earnest Money Deposit as "liquidated damages"...

(Just like Joe, this is not legal advise, it is what we have in the TREC Purchase Contract)
0 votes Thank Flag Link Sun Sep 16, 2012
Scott, you should call the agents Broker - if this agent did do something wrong the broker is the first place to go. Broker's are responsible for the actions of their agents and they do need to know if their has been a problem. If you don't get resolution then you may want to file a complaint.
0 votes Thank Flag Link Sun Sep 16, 2012
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