Home Buying in 85014>Question Details

Melissa, Home Buyer in Phoenix, AZ

My broker's negligence caused me to miss my closing date and we lost the house. Can I sue the broker?

Asked by Melissa, Phoenix, AZ Tue Jan 17, 2012

he dragged his feet and waited until the last minute to get everything done, since we missed the closing date the seller does nit want to work with me anymore and I am losing the house.

Help the community by answering this question:

Answers

8
This is clearly a legal question that should be answered by an attorney.

Also, there are way too many unanswered questions:

What exactly did your agent/broker not do until the last minute?

How do you know the seller doesn't want to work with you anymore?

What does your contract say about the Close of Escrow date, Cure Period Notices, etc.?

Have you and your agent/broker tried coming up with solutions to the problems that might be agreeable to the seller?
1 vote Thank Flag Link Tue Jan 17, 2012
It is very unusual for a closing to be delayed as the result of the Broker. Also a 3 day cure notice should have been filed. A seller can not just decide to change his mind and not sell his home, unless certain documents are filed or unless there were special addendum's or clauses which allowed this to happen. You may be able to file a claim against the seller, but it should be handled through proper channels which a Real Estate attorney would be the best one to consult on that. It is a possibility that the seller found another deal he preferred to yours and made excuses to get you out of the deal. You should definitely check into this and in the future be sure to protect your contractual rights. If you still plan on purchasing a home and would like to consult with me please call AJ Stewart Veracity Realty Group 480-217-2167
0 votes Thank Flag Link Tue Feb 7, 2012
I am going thru the same thing. I made an offer to the seller and he accepted. The listing agent then called my loan officer asking if he could get the loan done in 2 weeks. He said no. I then picked out another house. Then my agent came back to me two weeks later stating that I again had the option to purchase the house. The seller stated that the closing had to take place by the 31st. We were set up to close. Then my loan officer called me saying he made a mistake that he had to correct and we could not close until the 2. I lost the deal. Sounds like to me that real estate agents, brokers and loan agents can do anything they want that is unethical.
Flag Mon Dec 29, 2014
Negligence as to what? Dragged his feet how? Were you paying cash? Was there a lender involved? There are many moving parts in a real estate transaction and it's hard to just say "SUE YOUR BROKER" before all the facts are known. There are also many things that are out of the agents/brokers control. Do you feel that your not being able to buy this home is the fault of everyone except yours?

BTW, you can can sue anyone at anytime but you'll need to retain an attorney and that's going to cost a couple bucks.
0 votes Thank Flag Link Wed Jan 18, 2012
Since we don't really know the whole story it is not possible for us to really advise you on this. You might want to talk to the Designated Broker for the company before you do anything else. If the agent you are referring to is the Designated Broker, your next call should probably be to a Real Estate Attorney to get some legal advice. I understand your frustration, but there may be more to the story than we know. Good luck, I'm sorry you are feeling mistreated.
0 votes Thank Flag Link Tue Jan 17, 2012
A real estate attorney is the best person to answer this question. The attorney will want to review all the paperwork you signed. As a broker, and just based on my years of experience, I do know it is hard to sue for specific performance, or force the seller to sell.

You should also know there is no automatic cancellation in the standard Arizona Residential Purchase Contract, which is what your agent should have used when making an offer on your behalf. The seller must do a "cure notice" that gives you three days to fix whatever the problem may be. See Section 7a of the contract. It is only after that time period has passed can title then cancel the contract. Even after a cure notice is delivered and the time period is past, most title companies still require mutual cancellation instructions signed by the seller and the buyer. So your deal may not be as dead as you think. Get your agent and/or his broker on the phone and find out. You can also call the title company to see if the seller has delivered a cure notice. If no cure notice has been delivered, the seller is still in the deal and you have some time to get missing items together.

I hope this helps and you can save your transaction.

Fred Shocklie
623-505-4585
Web Reference: http://www.morecchoices.net
0 votes Thank Flag Link Tue Jan 17, 2012
What are the solutions to actually buy the house?

Focus on the positives to accomplish your goal!
0 votes Thank Flag Link Tue Jan 17, 2012
I suppose you can sue anyone in America, but that is a question for a lawyer. Please contact his principle broker (it is like his boss) and see what the principle broker can do. The company may be able to give you a different agent and save the situation for you.
0 votes Thank Flag Link Tue Jan 17, 2012
Send your old broker an email telling him your not happy and you do not want to work with him. Then contact the listing agent and tell them your intentions. If the house is in good shape I don't see a problem with dual agency. Make sure you get a good inspection if it is not. Are you paying cash or financing?
0 votes Thank Flag Link Tue Jan 17, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer