Home Buying in 06119>Question Details

John Pacino, Home Buyer in 06119

My agent missed commitment date and I lost half of my deposit.

Asked by John Pacino, 06119 Sun Dec 6, 2009

I was under contract for a home and was having trouble getting a loan because the lender thought the appraisal was too high. My agent was not available on the mortgage commitment date and I was unable to file an extension to try to get a loan from a different lender. I did not end up getting a loan due to the high appraisal. The seller would not return my deposit since they claim i missed the commitment date. I took the seller to small claims and ended up settling out of court for half of the deposit. Can I hold my agent liable for the rest of the deposit? She was unavailable the entire commitment date and did not respond until the next day.


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It stinks to lose deposit money when trying to purchase a home. It sounds from your description like you knew prior to the commitment date that there might be a delay in being able to deliver on your obligation to provide a commitment from your lender. So this could have been handled pro-actively by your agent prior to the actual commitment date deadline.

The change in Connecticut Real Estate Law about 10 years ago which established Buyer's Agency was designed to prevent just this type of problem from happening. I hope you have a signed representation contract with the agent (technically with the entire real estate company) to work in your best interests.

Given the situation you have outlined, you are fortunate to have settled for half of the deposit from the seller. If I were you, my next step would be to ask the agent, in writing, to refund the balance which you lost. The next step would be to send a written request to the manager of the real estate office or the owner of the company. If they are not helpful, I would make a written complaint to the Department of Consumer Protection which licenses Real Estate agents and brokers. If this state agency agrees that your complaint has merit, they will require the real estate company to respond to your complaint in an effort to resolve this problem.
2 votes Thank Flag Link Wed Dec 30, 2009
Your question is a legal one and really requires the input of a qualified Real Estate Attorney.
0 votes Thank Flag Link Wed Oct 17, 2012
Hello. I am interested in the outcome of this scenario. Hopefully you were able to get in touch with your agent and come to some kind of agreement.

Gino Herring, SFR
0 votes Thank Flag Link Mon Aug 8, 2011
I would think that if you wanted to hold your Realtor responsible, the time to do so would have been when you went to small claims court. Since you did have a ruling, I think it is too late to go after them now.

0 votes Thank Flag Link Mon Dec 7, 2009
It's been a long time; where has your agent been since then? What do they have to say?
0 votes Thank Flag Link Sun Dec 6, 2009
Did you ltry to contact their broker, assistant, or other colleague? Did you know prior that they would be out of town that day? Have you spoken to the agent about this? That may be a good place to start.
0 votes Thank Flag Link Sun Dec 6, 2009
The Hagley G…, Real Estate Pro in Pleasanton, CA
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